Hong Kong-based Contract Research Organization (CRO) GenScript Biotech Corporation (HKG: 1548) announced that Zhenjiang Gaoxin Venture Capital Co., Ltd, a wholly-owned subsidiary of state-owned Jiangsu Hanrui Investment Holdings Co., Ltd, is set to acquire 57.31 million Series B preferred ProBio shares for a consideration of USD 37.25 million. The proceeds will be used to expand ProBio’s manufacturing facilities and enhance its research and development platform, as well as cover company expenses.
About ProBio
ProBio, a subsidiary of GenScript Biotech Corporation, provides end-to-end Contract Development and Manufacturing Organization (CDMO) services. It covers the entire process from drug discovery to commercialization, focusing on cell and gene therapy (CGT), vaccine development, biologics discovery, and antibody protein drug development. ProBio aims to accelerate drug development for customers through proactive strategies, professional solutions, and efficient processes.-Fineline Info & Tech
