Company receives $57M to Further Advance Biologics Development and Clinical Trials
HANGZHOU, China, Aug. 8, 2017 /PRNewswire/ -- Dedicated to developing global antibody and recombinant protein bio-therapeutics, Hangzhou Just Biotherapeutics, Ltd. (Just China), today announced the completion of its Series B funding round.
Temasek, an investment company headquartered in Singapore, leads the financing followed by existing investors Lilly Asia Ventures (LAV) and ARCH Venture Partners. New investors also include Taikang, Hangzhou Economic & Technological Development Area (HEDA), Bank of China (BOC) and Bank of Hangzhou.
"The successful Series B financing indicates the continual faith of existing investors in Just China. We are also thankful to our new investors for their strong support," said Dr. Yining ZHAO, Co-founder and CEO of Just China. "Healthcare innovation in China has already entered into a new era. With joint efforts from all parties, Just China is committed to demonstrating the innovation in our products and business model, to truly accomplish our mission of providing good quality biotherapeutics for all."
Located in the Hangzhou Economic & Technological Development Area, Just China's world-class R&D and manufacturing facility will be completed by the end of this year and operational in the first quarter of 2018. Construction and operations of the production center strictly adhere to cGMP standards and will be fully compliant with any country's regulations and guidelines for biopharmaceutical manufacturing.
Globally, Just China has already established clinical development and CMC capabilities with a strong pipeline consisting of both bionovel and biosimilar products. Several leading programs will start to enter clinical stage in 2018.
Just China was founded in February 2016 as a joint venture with Just Biotherapeutics, Inc. (Just), located in Seattle, Washington, USA. As an affiliate, Just China will have access to Just's integrated technology platform, J.DESIGN, and will closely partner with Just to evolve the platform. Applying J.DESIGN technology to molecule, process, product, manufacturing and plant design will enable Just China to develop biologics that meet global quality standards, while accelerating the development process and substantially reducing manufacturing cost.
About Just. Founded in 2014, Just is led by an experienced team in the fields of protein, process and manufacturing sciences. The Just team came together to solve the scientific and technical hurdles that block access to life changing protein therapeutics; from the design of therapeutic molecules to the design of the manufacturing plants used to produce them. Our focus and passion is to create access and value for a global market through scientific and technological innovation.
For more information on Just, please visit www.justbiochina.com.
About Temasek. Incorporated in 1974, Temasek is an investment company headquartered in Singapore. Supported by 10 offices internationally, Temasek owns a S$275 billion (US$197 billion, EUR184 billion, GBP158 billion, RMB1.35 trillion)* portfolio as at 31 March 2017, mainly in Singapore and the rest of Asia.
Our portfolio covers a broad spectrum of industries: financial services; telecommunications, media & technology; transportation & industrials; consumer & real estate; life sciences & agribusiness; as well as energy & resources. Our investment activities are guided by four investment themes and the long term trends they represent: Transforming Economies; Growing Middle Income Populations; Deepening Comparative Advantages; and Emerging Champions.
For more information on Temasek, please visit www.temasek.com.sg
About Taikang: Founded in 1996, Taikang is a large insurance and financial service conglomerate. The company operates through three main businesses: insurance, asset management and health and elderly care. Taikang Insurance Group has a number of subsidiaries which include Taikang Life, Taikang Asset, Taikang Pension, Taikang Community, Taikang Health and Tk.cn. Its business scope covers a wide range of fields, such as life insurance, pension, enterprise annuity, online property and casualty insurance, asset management, health and elderly care, health management, commercial real estate and offshore businesses.
For more information on Taikang, please visit www.taikang.com.
SOURCE Hangzhou Just Biotherapeutics, Ltd.