MabPlex International, a Contract Development and Manufacturing Organization (CDMO) based in Yantai, the Shandong Peninsula in northeastern Shandong province, in China, confirmed that it raised more than RMB 500 million (US $ 70.7 million) in Series B financing.
MabPlex provides a range of services from biopharmaceutical clients, including development, manufacturing, investigational new drug (IND) filing, clinical sampling preparation, commercial-scale GMP manufacturing, covering mAbs, recombinant proteins, antibody-drug conjugates (ADCs), and bispecific antibodies.
The company currently has research, development, and manufacturing facilities in Yantai and Shanghai in China, and San Diego, California, in the United States.
MabPlex, which has successfully launched 10 IND filings for the company’s clients to regulators in the United States and Australia, and has provided Phase I and Phase II clinical trial manufacturing services for multiple companies, currently hs a 50,000 sq. meter (538,195.52 sq. feet) facility with 9 single antigen liquid GMP production lines, 2 ADC raw liquid production lines, 1 mAb preparation production line, and 1 ADC preparation production line, capable of 200 to 12,000 liters (6*2000 liters) of biopharmaceutical GMP production.
The recent financing round was co-led by a number of investors, including DT Capital Partners and Huajin Capital, Sunshine Insurance, OrbiMed Advisors, China Merchants Securities, Yantai Xinzhen Tianying Equity Investment, GF Venture Capital, New Momentum Venture Capital, Finnova Capital, Horus Capital, Yantai Financial Investment, and others.
In January 2019, MabPlex, closed a Series A financing round at RMB 400 million (US $ 56.5 million), a financing round funded by investors including SDIC Venture Capital and Shenzhen Capital Group.