Thousand Oaks Biopharmaceuticals Completes $45 Million Series A Financing to Expand Integrated CMC and Build the World Largest Cell Cultural Production Facility in China

January 03, 2019 07:00 AM Eastern Standard Time

THOUSAND OAKS, Calif. & SHANGHAI—(BUSINESS WIRE)—Thousand Oaks Biopharmaceuticals, Inc. (“TOBIO”), a leading integrated global CMC organization including GMP cell culture media and biomanufacturing capabilities today announced the closing of a $45 Million USD Series A financing to advance its phase II CDMO and started its construction of Large Scale Cell Culture Media (LSCCM) cGMP Manufacturing facilities based in Haimen, Nantong (part of greater Shanghai), China.

“Upon completion of the Series A financing, we are pleased that our achievements to date and promising future have been recognized by several renowned investors, including New Alliance Capital, ADDOR Capital, and Tenyall & Sumin. This round of financing allows us to expand our integrated CMC services and to increase current media production capacity by building the world’s largest cell culture medium manufacturing facility,” said Shun Luo, Ph.D., Chairman of TOBIO. “We are very excited about this opportunity to further enhance our capabilities in CMC value chain including cell line development, process and bioanalytical development, and customized cell culture media development, so as to establish an integrated platform from DNA to clinical material supplies and successful regulatory filings, leading towards commercial manufacturing. We are able to establish strategic partnership with customers to effectively accelerate the speed of biologics development from bench to market, benefit patients worldwide. Our goal is to become world class CMC organization enabling our partners to provide affordable and accessible biologics for humanity,” added Dr. Shun Luo.