Thousand Oaks Biopharmaceuticals Co., Ltd. announces the signing of a RMB 450m series B financing

Recently, Thousand Oaks Biopharmaceuticals Co., Ltd. announced the signing of a RMB 450 million series B round of financing, led by CICC Jiatai (a fund under CICC Capital) and Goldstone Investment, with participation from CCB International, Wens Investment and Shanghai Huaxu.

Proceeds from this round of financing will mainly be used for the construction of the serum-free cell culture media base project in Haimen and capacity expansion of the CDMO segment. The Haimen serum-free cell culture media base, once completed, will become an internationally advanced dry powder media production base together with the Lanzhou base boasting high automation, production efficiency and capacity. The expansion of the CDMO production capacity will facilitate the implementation and industrialization of multiple BLA/NDA projects that have been undertaken or planned to be undertaken at Thousand Oaks Biopharmaceuticals. At the same time it will also enable Thousand Oaks Biopharmaceuticals to meet the CDMO requirements for different product types including therapeutic biological products, preventive biological products, cell therapy and gene therapy drugs.

Dr Shun Luo, Chairman and President of Thousand Oaks Biopharmaceuticals, said: “First of all, I want to thank CICC, Goldstone, CCB, Wens and Huaxu for trusting us under a global pandemic. This round of financing will certainly promote our development faster and better; secondly, it once again proves the strength of our company and also confirms our unique competitive advantages and great potential for growth. Nowadays, we are at a critical crossroad where a new round of technological revolution and industrial transformation converge. The major pharmaceutical giants around the world keep increasing the investment in research and development, and the proportion of biopharmaceuticals in the pharmaceutical industry continues to rise. With this round of financing, we will further increase our production capacity and technical service capabilities, consolidate our leading advantage in the cell culture media industry in China, and strive to compete for the leading position of CMC organizations in the domestic biopharmaceutical field."

Mr. Xiaojun Ge, Managing Director of CICC Capital, highly recognized Thousand Oaks Biopharmaceuticals: “Thousand Oaks Biopharmaceuticals is a rare integrated CMC organization in China. On one hand, we have confidence in the international team led by Dr Shun Luo. They have more than 20 years of practical experience in multinational pharmaceutical companies. So it has global competitiveness. On the other hand, it also boasts sound cell culture media products and end-to-end CDMO commissioned development and processing service capabilities. From human/veterinary vaccines to protein antibody drugs, Thousand Oaks Biopharmaceuticals has served hundreds of well-known Chinese and foreign drug enterprises. In the first half of 2020 alone, the company had signed nearly 20 CMC-phase projects in the CDMO segment, involving pre-clinical research starting from cell line development, clinical drug production, and several Phase III clinical trials and BLA/NDA phase projects. It goes through dozens of customer quality audits and simulated National Medical Products Administration (NMPA) on-site inspections every year. The continuous business growth and the everlasting good reputation in the industry are what we mainly base on to choose Thousand Oaks Biopharmaceuticals. We are very confident in the future of Thousand Oaks Biopharmaceuticals, and are willing to work with its team to fulfill the vision of producing high-end biopharmaceuticals that are effective and affordable to common people around the world."