Thousand Oaks Biopharmaceuticals Raises RMB 400 Million in Series C Financing

Nantong, China--(Business Wire)--Thousand Oaks Biopharmaceuticals (Thousand Oaks), a fast-growing biopharmaceutical CDMO and cell culture media company, announced the closing of an over RMB 400 million Series C financing in March 2021. This series of financing was co-led by the China State Venture Capital Fund and Hillhouse Venture Fund, and participated by new investors including CDH, HighLight Capital, China-U.S. Green Fund, and Sany Foundation, and shareholders including Goldstone, CCIG, and Fosun-affiliated funds. CEC Capital was the exclusive financial advisor in this round of financing.

“The new capital will be used for CDMO and culture medium capacity expansion,” said Dr. Luo Shun, Chairman and President of Thousand Oaks. “As our culture media arm, Jianshun Biosciences (JS Bio) has established a stable and close cooperation with many domestic biopharmaceutical and human/veterinary vaccine companies, and has become the largest mammalian cell culture media supplier in China. As for the CDMO sector, we have served more than 40 clients and seen the number of orders growing rapidly every year since the launch of the business three years ago. This round of financing will help us build the world's largest culture media production center and a world-class CDMO platform. We are very pleased to have new investors joining in, and we are also thankful for the continued support of those who previously participated in the Series B financing, which shows their confidence in the prospects of Thousand Oaks."

About Thousand Oaks Biopharmaceuticals

Thousand Oaks Biopharmaceuticals, aiming to be China’s leading biopharmaceutical company integrating raw materials, consumables, pharmaceutical equipment, technical services and contract production, focuses on CMC Biomanufacturing to provide one-stop services from R&D, process, production to logistics, technical support and after-sales. With an international operation and technology team and extensive experience in biopharmaceutical technology and industrialization, Thousand Oaks can provide advanced CDMO services and has passed the quality audits of NMPA, FDA, and EMA standards. Thousand Oaks currently has a 10,000m2 cGMP plant with a batch capacity of 2,000L for culture and 500L for perfusion culture. The plant is equipped with penicillin bottle refilling/freeze-drying and prefilled syringe/cartridge refilling capabilities to manufacture multiple types of products at the same time for customers at home and abroad.

Jianshun Biosciences, a subsidiary of Thousand Oaks established in 2011, currently has advanced laboratories and production centers in China’s Lanzhou, Haimen, Shanghai, as well as in San Francisco and other places. It focuses on the development of high-quality and efficient serum-free, personalized, chemical components-defined cell culture media and processes, while providing formula, technical support and services for the biopharmaceutical industry. The products are mainly used in biopharmaceuticals, cell therapy and the process development and production of human/veterinary vaccines. As a leading supplier of industrialized dry powder culture media in China, Jianshun Biosciences has served 100+ clinical projects including 20+ phase III clinical projects.