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news.AutekBio secured $100m in venture capital from Suma Ventures and Beijing E-Town Harvest International Capital Management to establish a biologic CMO facility in southern Beijing, China.
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The new R&D facility will service international biologic developments, with combined volumes of bioreactors up to 20,000lt in multiple production lines (trains).
Julius Li, CEO of AutekBio, said that the unit will manufacture protein-based medicines, and according to him, the company will benefit from financial, regulatory and other support from the Chinese government for the biotech industry.
He said: “I am extremely pleased with this joint investment. This will allow us to build one of the largest biologic CMOs in Asia. The newly established facility and company will provide, for the first time, manufacturing services in China fully conforming to the US FDA and EU EMEA cGMP standards, for global biopharmaceutical needs.”
AutekBio offers proprietary technologies to the international bio-pharmaceutical market. The company-owned operating division in Beijing conducts both contract research and contract manufacturing business. The company’s core technologies include process development, biologic production using mammalian cell culture platforms and engineering cell line development.