China’s Chime Biologics nets $190m funding led by VMS Group

Source: National Cancer Institute/Unsplash

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. 

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.