Thousand Oaks Biopharmaceuticals Closes ￥450M Series B Round

According to chinasdg.com, Thousand Oaks Biopharmaceuticals recently announced the signing of a 450 million yuan Series B round of financing, led by a fund under CICC Capital and GoldStone Investment, with participation from CCB International, Wens, and Shanghai Huaxu.

Thousand Oaks Biopharmaceuticals is a developer of biopharmaceutical technologies intended to produce protein and vaccine compounds.

The company's technologies provide integrated control solutions, including the use of technical expertise to optimize the process and increase protein expression to reduce production scale, providing biopharmaceutical companies with personalized, chemical-defined cell culture media, formula production, technical support and ancillary services.

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.

Dr. Luo Shun, Chairman and President of Thousand Oaks Biopharmaceuticals, said: "With this round of financing, we will further increase our production capacity and technical service capabilities, consolidate our leading advantage in the culture media industry in China, and strive to compete for the leading position of CMC organizations in the domestic biopharmaceutical field. "

Established in 1995 as the first joint venture investment bank in China, CICC is a leader in providing comprehensive financial services including investment banking, capital markets, institutional and individual securities sales and trading, fixed income, asset management, private equity, individual wealth management and research.

GoldStone Investment was incorporated in Beijing in October 2007 with a registered capital of RMB 4.6 billion. As a wholly-owned subsidiary of CITIC Securities, it is solely engaged in direct equity investment and focuses on the private companies with the potential of going public. 

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