GENE ONLINE|News &
Opinion
Blog

2021-12-10| ChinaManufacturing

China’s Innoforce Bags $157 Million to Boost Cell, Gene and RNA CDMO Services

by Joy Lin
Share To

Innoforce, a Chinese biopharma and CDMO has closed a $157 million Series A funding round after adding $59 million to the $98 million it raised this March. It intends to use the proceeds to establish biomanufacturing capacities for cell and gene therapies, as well as develop an RNA production platform.  

The round was co-led by Yanchuang Capital and South China Venture Capital, with additional investment from existing investor Quan Capital Management. New investors joining the most recent tranche included Advantech Capital, Triwise Capital, CICC Capital, Highrun Capital, Euland Venture, and S&G CAPITAL. 

Founded in 2018, Innoforce is based in Hangzhou Bay Biotech Valley. Its primary campus is expected to include biologics development labs, a scale-up lab, a pilot plant, multiple 2000L commercial production lines, and cell and gene therapy manufacturing suites.

“We are extremely proud of the near completion of the first phase of construction of the Innoforce campus in Hangzhou and our progress towards planned, staged GMP operations in the coming year. Our fundraising activities have enabled establishing our joint venture with biologics manufacturing, opening our process development laboratories, and building our team,” said Dr. Yuling Li, CEO of Innoforce. 

 

Related Article: How CDMOs are Restructuring the Biopharma Landscape – An Interview with Bobby Sheng

 

Partnerships with Thermo Fisher and dMed

 

With the Hangzhuo campus expected to be GMP-ready in 2022, Innoforce has formed partnerships with two companies. Last month, the company and Thermo Fisher announced a joint venture to set up a biologics production facility with sterile fill-finish on the campus. Thermo Fisher will also help supply the drugs produced by Innoforce to clients around the world. 

Earlier in March, Innoforce partnered with China-US clinical CRO dMed to develop and manufacture biological drugs, primarily for the Chinese market. 

 

Related Article: How is China Driving Global Progress in Innovation and Access? – A Discussion with BeiGene CEO John Oyler

 

  

©www.geneonline.com All rights reserved. Collaborate with us: service@geneonlineasia.com
Related Post
Cell and Gene Therapy Landscape in Japan is Moving Beyond Oncology
2022-05-27
Lonza Signs CDMO Deal to Break Into Israeli Market
2022-05-25
Convergence, Communication and Commercialization, The Cornerstones In Emerging Regulatory Trends
2022-05-24
LATEST
Flagship-Backed ProFound Launches With $75 Million to Discover Human Proteins
2022-05-27
Janssen’s First Cell Therapy Gets Europe’s Approval for Multiple Myeloma
2022-05-27
Cell and Gene Therapy Landscape in Japan is Moving Beyond Oncology
2022-05-27
New Study Reveals Hope for Recovery of Patients with Spinal Cord Injury
2022-05-27
Laekna Therapeutics Announces Dosing of First Patients in the U.S. and China in Phase Ib/III Study of Afuresertib in Combination with Fulvestrant in HR+/HER2- Breast Cancer
2022-05-26
Stanford Touts Remote-Controllable CAR-T Cell Therapy
2022-05-26
Phenomix Launches The First Obesity Biobank Registry To Study Underling Phenotypes
2022-05-26
EVENT
2022-06-03
ASCO Annual Meeting
Online and on-side
2022-06-07
Digital RESI June
Online
2022-06-09
Medhospafrica
Africa
2022-06-13
BIO International Convention
San Diego, CA
2022-12-14
BIOHK2022
Hong Kong, China
Scroll to Top

Create an account with us now to say goodbye to all the pop-ups!