2022-09-16 Company Announcement

Jade Bio completed Series B fundraising led by VMS Group

Jade Biomedical (“Jade Bio”) has recently completed its Series B fundraising led by VMS Group, with participation from Panacea Venture. The proceeds will be used for the expansion of its biologics testing (Bio-Pacific Laboratories, BPL) services and operations.

Founded in June 2017, Jade Bio was the first ever company to propose and register the trademark for a new business model, Bio-CQO®, quality contracting service for biological products. In the past 5 years, Jade Bio has successfully helped leading Chinese and US companies in a repertoire of GMP quality service areas contributing to successful IND and BLA filings on more than 50 projects, covering monoclonal antibody, ADC, CAR-T and other CGT, mRNA products.

Andrew Ng, Head of Healthcare of VMS Group and Investment Partner of Panacea Venture says: “Jade Bio provides premium end-to-end quality and testing technology services for top-tier biopharmaceutical companies, especially for those in the cell and gene therapy industry. Jade Bio is in a leading position of the booming field of biological quality and testing outsourcing services. We are honored to lead this financing round, and we are committed to investing in companies with breakthrough technologies and high growth potential. We are confident that Jade Bio will continue to develop rapidly under the leadership of the founding team.”

Dr. Claudia Lin, founder, chairman and CEO of Jade Bio, says: “This successful Series B Financing from two influential healthcare investment firms, VMS Group and Panacea Venture in the midst of an industry market correction with limited financing opportunities further establishes and enhances Jade Bio’s strong position for the continuation of its upward trajectory, expansion of service offerings, and market reach in China and beyond. The financing builds upon Jade Bio’s strategic collaboration with Charles River to combine Charles River’s industry expertise with Jade Bio’s deep knowledge of local regulatory environments, providing clients with a leading solution. With our partners, we firmly believe that the unique expertise and position Jade Bio has gained in addressing one of the major obstacles that limit initial and long-term product success, i.e. lack of manufacturing quality and GMP compliance, will enable more of the Chinese biologics companies to not only launch high quality products with clinical benefits to the Chinese people, but also expand into US and EU markets.”

About Jade Bio
Jade Bio is a fast-growing service company well positioned to become a leader in China biologics therapeutics value chain. Jade Bio’s services are focused in several areas critical to biologics therapeutic product realization and global health authority approvals including: GMP quality systems and management, biologics testing services and cold chain logistics.

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