OBiO Technology (Shanghai) Corp has completed a 100 million yuan ($15 million) Series C+ round exclusively from Tencent, per a company statement on Tuesday.
This follows a 300 million yuan ($46 million) Series C fundraising from Morningside Group, Loyal Valley Capital, and other investors in September 2020.
The fresh funding brings the corpus raised by OBiO in 2020 to over 600 million yuan ($92 million). In July this year, OBiO had secured 200 million yuan ($30 million) in its Pre-C round from healthcare-oriented Efung Capital.
Set up in 2013 with registered capital of 393 million yuan ($60 million), OBiO provides gene therapy-led contract research organization (CRO) and contract research manufacturing services for pharmaceutical players, medical centres, and scientific research institutions.
OBiO has been backed by a slew of state-backed investors including GP Capital, China Merchants Securities, Shanghai Pudong Science and Technology Investment and Zhangjiang Venture.
According to public information, Obio was established in March 2013 and is located in the Shanghai International Medical Park of Zhangjiang Science City. It is a high-tech enterprise integrating basic research services, gene therapy drug research and development, and clinical-grade recombinant virus industrialization preparation. , Through the business model of "college cooperation + scientific research services + industrialization support", focusing on providing overall solutions for gene therapy research CRO services to domestic scientific research institutions, medical institutions, pharmaceutical companies, etc., has successively won the Shanghai Development and Reform Commission Support for multiple policy projects such as major projects in strategic emerging industries, and special fund projects for the development of the Zhangjiang Management Committee Free Trade Zone.
In order to break through the core technology that plagues the development of gene therapy, in 2016, Obio invested hundreds of millions of dollars to carry out a comprehensive strategic cooperation with GE Healthcare, and in the first quarter of 2017, it began to build a GMP-level recombinant virus production workshop with one-time technology, which can produce multiple lines together. A variety of gene therapy viral vectors (including lentivirus for cell therapy, adeno-associated virus for gene therapy, oncolytic virus, etc.), providing gene and cell therapy R&D companies from small-scale research and development, clinical application pilot production to GMP industrial production Dragon Service accelerates the launch of gene therapy or cell therapy drugs in all aspects.
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