Chime Biologics Expands CDMO Capabilities

Chime Biologics, a China-based CDMO, has secured a total commitment of $190 million investment from institutional investors. This round of financing was led by VMS Group, followed by Fidelity International and Panacea Venture. Previously Chime Biologics had just completed its Series A round financing of $125 million in early 2020.

Chime Biologics says it has built the world's first GE KuBio modular biomanufacturing facility in Wuhan Bio-Lake Biotech Industry Development Zone of China (China Optics Valley). The facility complies with global quality standards of ICH, FDA, EMA and NMPA. With its state-of-the-art facility and rich experience in biomanufacturing, Chime Biologics provides one-stop integrated solutions to support the needs of the rapidly evolving biopharmaceutical industry from early drug development to late stage clinical and commercial cGMP production.

In order to meet the increasing demands for CDMO services from various customers, Chime Biologics has already started the second phase of its facility expansion to increase the total manufacturing capacity to more than 140,000L within the next 5 years.

"The successful completion of this financing round will further accelerate the capacity expansion process of Chime Biologics," said James Huang, executive chairman, Chime Biologics. "With the rapid growth of China's biologics market and the surging demand for CDMO services, Chime Biologics will further leverage its world-class quality system and commercial-scale manufacturing capabilities to continue providing our customers worldwide with first-class CDMO services."

Andrew Ng, managing director and head of healthcare, VMS Group, said, "We are very impressed by the manufacturing track record and fast-growing customer base of Chime Biologics. With our investment and strategic support, we strongly believe Chime Biologics could expand its production and business rapidly, and become one of the leading CDMO players both in China and the global arena in the near future."

"It is the great honor of Chime Biologics to have the trust and recognition from internationally renowned institutional investors. We will continuously build up advanced technology platforms and more capacities to better serve our customers, and also welcome biologics partners from all over the world to come here, exchanging experiences and seeking for developments together," said John (Xianfang) Zeng, CEO, Chime Biologics Limited.