Shanghai ZhenGe Biotech raises $ 100 million in Round C led by Goldman Sachs Asset Management and Sofina
SHANGHAI, January 11, 2022 / PRNewswire / – Shanghai ZhenGe Biotech Co., Ltd. (“ZhenGe Biotech” or “the Company”) announced the finalization of the financing of round C of the $ 100 million, led by Goldman Sachs Asset Management and Sofina. Novo Holdings A / S, Qiming Venture Capital, IDG Capital, LYFE Capital, Junxin Capital and Cowin Capital have also invested.
the product Round C will be used to strengthen ZhenGe Biotech’s global R&D capabilities and expand its Good Manufacturing Practices (“GMP”) manufacturing capacity to better meet domestic and international customer demand. To date, the Company has raised a total of US $ 225 million.
ZhenGe Biotech provides one-stop contract development and manufacturing organization (CDMO) services and offers end-to-end solutions to help customers discover, develop and manufacture biologics from concept to commercialization. To date, the company has served over 100 biopharmaceutical and biotechnology clients and completed over 150 projects, ranging from cell line development projects to new investigational drug (IND) applications and large clinical phase production contracts. Over the years, ZhenGe Biotech has developed deep expertise in monoclonal and bispecific antibodies, antibody-drug conjugates (ADCs), fusion proteins and vaccines.
ZhenGe Biotech integrates advanced cell culture platform, metabolite analysis platform, recombinant protein analysis platform, and customized media development and production platform for customers to improve yield and quality of securities. Additionally, ZhenGe Biotech provides advanced analytical services including Analytical Ultracentrifugation (AUC) to assist customers with overseas drug approval requests.
In addition to R&D centers through Shanghai and Maryland, United States, ZhenGe Biotech owns 10,000 GMP pilot production center in Lingang Special Zone of China (Shanghai) Pilot Free Trade Zone (FTZ), a medium GMP production line with an annual output of 200 tonnes of dry powder, and a commercial manufacturing base with three 2,000L and three 5,000L bioreactors, currently under construction.
ZhenGe Biotech also focuses on environmental, social and governance (ESG) responsibilities as part of its strategy and strives to create a positive impact by adhering to high environmental, health and safety standards while by adopting next-generation manufacturing technologies and cleaner energy sources.
Mr. Jianxin Chen, Chairman and CEO of ZhenGe Biotech said, “We are delighted that global investors like Goldman Sachs Asset Management, Sofina and Novo Holdings are leading the current funding round, and we thank them for their support. Tower C product will be used to strengthen our R&D and build multiple 15,000L production lines, which will enable ZhenGe Biotech to provide cost-effective and high-quality solutions to meet growing demand from existing and new customers. “
“Against the backdrop of a large and rapidly growing global biologics market, we see continued innovation in drug development driven by regulatory policy and capital formation. We expect the rate of outsourcing of macromolecular drug development to increase as innovative players begin to face talent constraints. We are excited about the solutions that ZhenGe can offer to its customers, as well as its extensive know-how in upstream and downstream processes to help arrive at viable cell lines, ”said Kevin Xu, Managing Director of Goldman Sachs Asset Management, which focuses on the company’s investment efforts in healthcare and life sciences in China. Mr. Xu is now a member of the board of directors of the company.
Sofa head of China Xiao-Tian Law and Chief Investment Officer, Lim Yizhen, said, “We are delighted to support ZhenGe which has been on a trajectory of rapid growth given its strong combination of in-depth technical expertise and commitment to providing customers with the advanced manufacturing and process excellence in the development and production of affordable products. and innovative therapies. We are confident that ZhenGe will continue to be a trusted partner of choice for new and existing customers and we are delighted to embark on a long term partnership with ZhenGe. “
Dr. Amit Kakar, Senior Partner and Head of Novo Holdings Asia said, “ZhenGe Biotech is one of the fastest growing biologics CDMOs addressing a large unmet need through its high quality end-to-end services led by a leading team in the sector. Novo Holdings is very happy to partner with them in the implementation of their national and international growth strategy.
About Goldman Sachs Asset Management Growth Equity
Bringing together traditional and alternative investments, Goldman Sachs Asset Management offers its clients around the world a dedicated partnership focused on long-term performance. As the primary investment area within Goldman Sachs (NYSE: GS), we provide investment and advisory services to the world’s leading institutions, financial advisors and individuals, leveraging our deeply connected global network and bespoke expert information, in all regions and markets, overseeing $ 2.37 trillion in assets under surveillance worldwide September 30, 2021. Driven by a passion for the performance of our clients, we seek to build long-term relationships based on conviction, lasting results and shared success over time. follow us on LinkedIn.
Sofina is a family-owned investment company listed on Euronext Brussels, managing its own assets which represent approx. 10 billion euros. Sofina aspires to be the privileged partner of entrepreneurs and families who run growing businesses by supporting them with patient capital and supportive advice. As part of its Sofina Growth investment style, it takes minority stakes, generally in the range of 15 to 50 million euros. A common vision and a strong alignment of interests with its partners are essential in the deployment of the strategy. For more information, visit www.sofinagroup.com.
About Novo Holdings A / S
Novo Holdings A / S is a private limited liability company wholly owned by the Novo Nordisk Foundation. It is the holding company of the Novo group, comprising Novo Nordisk A / S and Novozymes A / S, and is responsible for the management of the assets of the Novo Nordisk Foundation.
Novo Holdings is recognized as a leading international investor in life sciences with a focus on long-term value creation. As an investor in the life sciences, Novo Holdings provides seed and venture capital to early stage companies and takes significant stakes in growing and established companies. Novo Holdings also manages a large portfolio of diversified financial assets. More information: www.novoholdings.dk.
About ZhenGe Biotech
Shanghai ZhenGe Biotech was founded in 2017. ZhenGe Biotech’s main business is CDMO service of macromolecular biological drugs, development and production of mammalian cell culture media, etc. Specifically, its services include: macromolecule developability analysis, cell line development, process development and optimization, pilot production, clinical sample production and commercial CMO services, characterization research and process validation, drug analysis services, development of cell culture media formulations and commercial production, etc.
SOURCE Shanghai ZhenGe Biotech Co., Ltd.