Chinese biopharma firm MabPlex nets $71m in Series B round

MabPlex International, a Chinese contract developer and manufacturer of biopharmaceuticals

MabPlex International, a Chinese contract developer and manufacturer of biopharmaceuticals, has garnered over 500 million yuan ($71 million) in a Series B round of financing led by private equity firms DT Capital Partners and Huajin Capital.

Global healthcare investment specialist OrbiMed, Chinese insurer Sunshine Insurance Group, the alternative investments unit of China Merchants Securities, Chinese venture capital firm Finnova Capital, private equity fund Horus Capital, and Beijing-based asset manager Qiandao Fund participated in the deal, said DT Capital Partners in a WeChat post on Monday.

MabPlex’s Series A backers GF Venture Capital, Yantai Finance Investment Group, and PE firm Huachen Equity Investment Management also invested in the Series B round. China’s state-owned investor SDIC Venture Capital also re-upped in the new round.

Established in June 2013, MabPlex operates as a global contract research/manufacturing organization (CRO/CMO) that primarily develops biopharmaceuticals, including monoclonal antibodies (mAbs), recombinant proteins, antibody-drug conjugates (ADCs) and bispecifics.

The company is headquartered in the Yantai Economic and Technological Development Zone, an area in the northeastern part of China’s Shandong Province. Besides a research and development centre in San Diego, the company also operates manufacturing sites in the Chinese cities of Yantai and Shanghai.

MabPlex, along with US-based ATUM and global life sciences firm Selexis, is among the major players in the cell line development market that is expected to reach $4.71 billion by 2024 from $2.12 billion in 2018, per a report from ResearchAndMarkets.com.

The market could demonstrate significant growth in the following years, thanks to the rise in demand for monoclonal antibodies around the globe.

MabPlex closed 400 million yuan ($56 million) in a Series A round led by SDIC Venture Capital and Chinese government-linked Shenzhen Capital Group in January 2019.

Singapore Reporter/s

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

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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.