<article>Thousand Oaks Biopharmaceuticals (TOBIO) has raised a $45 million in a Series A funding round to develop manufacturing facilities in China.</article>

Thousand Oaks Biopharmaceuticals (TOBIO) has raised a $45 million in a Series A funding round to develop manufacturing facilities in China.
The round was led by New Alliance Capital with participation from ADDOR Capital, Tenyall &amp; Sumin, Broadhi Capital, QianRong, Ji Lin Ao Dong and Bluebay Capital, the company said, in a statement.
The company plans to use the proceeds to advance its phase II contract manufacturing and cell culture media plant in Haimen, Nantong, China.
The plant, expected to commence operation in the second half of 2019, will become the world’s largest cell culture medium manufacturing facility, according to Shun Luo, chairman of TOBIO.
“This round of financing allows us to expand our integrated chemistry, manufacturing and controls services and to increase current media production capacity,&#8221; said Luo.
TOBIO has presence in China and Thousand Oaks, America.
“We are excited to lead a group of excellent investors in the direction TOBIO is taking. New Alliance Capital has substantial investment experience in the development of biologics and its related ventures,&#8221; said Liefeng Qu, New Alliance Capital’s chairman and partner.
The Shanghai-headquartered investment firm specialises in early, growth stage and pre-IPO investments across TMT, healthcare and energy and clean tech sectors.
Founded in 2008, the firm manages assets of 10 billion yuan ($1.45 billion) across its six funds. Till date, it has made around 60 investments, of which 20 companies have been listed.
New Alliance Capital’s notable healthcare portfolio include Wuxi AppTech, He Quan Pharmaceutical, Shanghai Cell Therapy Group, Ping An Good Doctor and Chengda Bio.
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Thousand Oaks Biopharmaceuticals (TOBIO) has raised a $45 million in a Series A funding round to develop manufacturing facilities in China.

China: New Alliance Capital leads $45m Series A in Thousand Oaks Biopharma

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China: New Alliance Capital leads $45m Series A in Thousand Oaks Biopharma

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