Biopharma firm Thousand Oaks raises $64m led by CICC fund, Goldstone

Thousand Oaks Biopharmaceuticals Co., Ltd has raised 450 million yuan ($64 million) in a Series B round of financing jointly led by CICC Capital’s sub-fund CICC Jiatai and CITIC Securities’ private equity arm Goldstone Investment Limited. 

China Construction Bank’s investment vehicle CCB International, Wens Investment and Shanghai Huaxu Investment also joined the round, the company said in the statement. 

The round comes a month after it raised an undisclosed sum from CICC Capital’s sub-fund CICC Jiacheng Investment and Yinglian Health Fund. 

The proceeds will be used to strengthen its contract manufacturing capacity and cell culture medium research. 

“We will continue to consolidate our competitive products, besides services and research capacity. We are ramping up efforts for a novel biopharmaceutical company offering chemical, manufacturing and control services,” said Thousand Oaks chairman Dr Shun Luo said in the statement. 

Thousand Oaks, set up in 2017 and located at East China’s Jiangsu province, primarily offers protein and vaccine-associated innovative drugs for biopharmaceuticals in and out of China. Additionally, it specializes in the R&D of serum-free medium through its subsidiary Jianshun Biosciences. 

The company claimes to have served leading pharma firms such as HK-listed oncology-focused Innovent, molecular nuclear oncology therapy developer SmartNuclide Biopharma, Suzhou Zelgen Biopharmaceuticals, and Stainwei Biotech. 

In January 2019, Thousand Oaks raised 300 million yuan ($43 million) in a Series A round of funding from investors comprising state-owned Sumin Investment, Addor Capital, New Alliance, Tenyall Investment Management, among others. Prior to it, Broadview Capital Management and Lanwan Capital had participated in its angel round back in 2017. 

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.