Chime Biologics (Wuhan) Co., Ltd, contract development and manufacturing organisation, has completed over $190 million in its Series A+ round of financing led by Hong Kong’s alternative asset management player VMS Group.
Fidelity International and Panacea Venture have partnered to participate in the fresh round. At the beginning of this year, Chime had closed a $125-million Series A round funding from undisclosed investors, it said in a statement.
Back in 2014, Chime had also raised round from Sequoia Capital China, Milestone Capital, KPCB China and bioVenture.
Chime provides end-to-end services from early-stage biopharma development through late-stage clinical and commercial manufacturing, catering to the needs of global players across 20 countries.
The company has set up an advanced manufacturing facility at Wuhan’s Bio-Lake biotech industry development zone of China and is embarking on the second phase of its facility expansion scaling up to 140,000+ liters within the next five years.
“The successful completion of this financing round will further accelerate the capacity expansion process of Chime Biologics,” said Chime Biologics Executive Chairman James Huang.
Chime’s peer Shanghai ZhenGe Biotechnology recently raised $70 million in a Series B round jointly led by Qiming Venture Partners and IDG Capital on March 22 this year.