China-based Suzhou Jade Biomedical Co., Ltd reportedly raised USD 10 million in a Series B financing round led by VMS Group, with participation from Panacea Venture. The proceeds will be used for the purchase of instruments, reagents, and consumables for the company’s biological GMP testing business. Additionally, the funds will support hiring, company operations, technology, and patent purchases.
Company Background and Achievements
Founded in 2017, Jade Biomedical has delivered over 50 regulatory filings for its customers, ranging from investigational new drug (IND) applications to biologic license applications (BLA). The company’s services cover a broad spectrum of biopharmaceutical products, including monoclonal antibodies (mAbs), antibody drug conjugates (ADCs), chimeric antigen receptor (CAR)-T cell therapies, and mRNA products. Notably, Jade Biomedical established a partnership with US-based Charles River Laboratories International Inc. (NYSE: CRL) in January last year. Its comprehensive testing laboratory in China has been recognized by CRL as an unrestricted third-party contractor for its global biopharmaceutical GMP testing laboratories.
Future Development Plans
With the new funding, Jade Biomedical is poised to expand its GMP testing capabilities and enhance its operational efficiency. The company aims to further solidify its position in the biopharmaceutical testing market by leveraging the latest advancements in technology and expanding its service offerings.-Fineline Info & Tech
