SinoBiom Raises ￥100 Million in Series B Financing

(VCBeat) July. 16, 2021 -- Changchun SinoBiomaterials Co., Ltd. ("SinoBiom") announced that it has just completed a new round of financing of hundreds of millions, led by strategic investor Sino-Ocean Capital, with participation from existing investors. Gelu Capital served as the exclusive financial advisor. The new funds will be used to develop new technologies and new products, and expand the global market.

On May 27, 2021, the polylactic acid dermal filler produced by Nordberg Medical AB, a wholly-owned subsidiary of SinoBiom in Karolinska, Sweden, has successfully obtained the European CE certification. This is another breakthrough after the factory of SinoBiom in Changchun obtained the first NMPA Class III medical device certificate of polylactic acid (PLA) dermal filler in China on April 19, 2021, achieving the goal of being the first regenerative medicine enterprise in China's medical cosmetology industry to "retrograde to the West".

Founded by the team led by Academician Chen Xuesi of the Chinese Academy of Sciences, SinoBiom is one of the few high-tech enterprises in the world with the R&D and production capacity of the whole chain from "PLA materials for biomedical applications" to absorbable medical devices.

With technical support from Changchun Institute of Applied Chemistry, Chinese Academy of Sciences, SinoBiom is one of the world's largest raw materials manufacturers of medical-grade PLA, with more than 30 types of PLA product models. SinoBiom's founding team set up the medical controllable preparation of PLA system, and has published more than 900 papers in the field of medical polymer, held more than 300 authorized patents. As for the field of biodegradable synthetic polymers, the number of papers, citations and the H index of SinoBiom's research ranks first in the world.

SinoBiom has broken through a number of key technologies for the large-scale production of medical PLA polymer materials, developed the large-scale preparation process of more than 30 varieties of raw materials such as PLLA, PDLLA, PGA, PLGA, mPEG-PLGA, and obtained the ISO 13485 system certification. SinoBiom using advanced automated-production processes and high-standard quality control, to ensure the safety and effectiveness of medical products.

Sino-Ocean Capital is a professional institution specializing in alternative asset management. The main business scope includes real estate investment, debt investment, equity investment, investment consulting, strategic investment, etc. Its main investment areas currently include big healthcare, big logistics, large-scale environmental protection, big data, new real estate, innovative financing, new education, etc.