OBiO Technology closes RMB200m Pre-C round

OBiO Technology recently announced the completion of a Pre-C round of financing totaling approximately 200 million yuan.
This round was led by EFUNG Capital, with participation from Loyal Valley Capital, Pudong Innotek, ZJ Venture, Golden Partners Capital, Furong Capital and other investment institutions.

OBiO Technology recently announced the completion of a Pre-C round of financing totaling approximately 200 million yuan.

This round was led by EFUNG Capital, with participation from Loyal Valley Capital, Pudong Innotek, ZJ Venture, Golden Partners Capital, Furong Capital and other investment institutions.

Proceeds from the round will be mainly used for the construction of a large-scale precision medical industrial park, introduction of overseas talents, and the development of new technologies and processes for gene therapy carriers and more.

The company will further expand its leading position in the gene therapy CRO/CDMO segment in China.

Founded in March 2013, OBiO Technology is a company with three major development directions: basic research, gene therapy drug development and industrial production of clinical grade AAVs.

The company provides comprehensive solutions for gene therapy research CRO services for research universities, medical institutions, and pharmaceutical companies.

The construction of OBiO’s large-scale precision medical industrial park located in the New Lingang Area of the Shanghai Pilot Free Trade Zone will start in the fourth quarter of 2020, with a construction area of more than 70,000 square meters. The project will be constructed in two phases and gradually put into operation.

The total project will be completed in 2027, and can provide gene and cell therapy virus vector CDMO/CMO services worth more than one billion yuan every year.

Disclaimer: This is an article created by Michael Liang for Chinasdg.org. You can find the original article here: https://chinasdg.org/2020/07/13/obio-technology-closes-rmb200m-pre-c-round/.

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