Chime Biologics announced the completion of USD 190 mil Series A+ investment, led by VMS Group

2021-03-26 Company Announcement

Chime Biologics (the “Company”), a China-based and world-class Contract Development and Manufacturing Organization (CDMO) announced today that it has additionally secured a total investment commitment of USD 190 million from institutional investors of which USD 100 million investment has already been closed today. This round financing was led by VMS Group and followed by Fidelity International and Panacea Venture. Earlier in February 2020 Chime Biologics successfully completed its Series A financing of USD 125 million. The use of proceeds is for its second phase CDMO facility expansion.

Chime Biologics is located at the Wuhan’s BioLake biotech industry development zone in China. It has built the world’s first and GMP-grade GE KuBio modular bio-manufacturing facility, which is compliant with global quality standard of ICH, FDA, EMA and NMPA. With its state-of-the-art facility and rich experience in bio-manufacturing, Chime Biologics provides one-stop integrated solutions to support the dynamic needs of the rapidly evolving bio-pharmaceutical industry from early drug development to late stage clinical and commercial cGMP production.

In order to meet the increasing demands for CDMO services from various customers, Chime Biologics has timely commenced its second phase of its facility expansion to increase the total manufacturing capacity to in excess of 140,000L within the next 5 years.

“We are very impressed by the manufacturing track record and fast-growing customer base of Chime Biologics.” said Mr. Andrew Ng, Managing Director and Head of Healthcare of VMS Group. He expressed that the completion of this round financing will further accelerate the business and capacity expansion of Chime Biologics. We look forward to seeing Chime Biologics become one of the leading CDMO players both in China and the global arena in the near future.