April 19, 2021 -- Porton Biologics, a subsidiary of cell and gene therapy (CGT) contract development and manufacturing organization (CDMO) Porton Pharma Solutions, has closed 400 million RMB ($61.4 U.S.) in financing. The funds will be used for the construction and operation of the company's commercial production facility.
The financing will help establish Porton Biologics' adeno-associated virus (AAV) process development and good manufacturing practice (GMP) production capabilities to increase its production capacity for GMP-grade plasmids, viral vectors, cell therapy, and other products supporting gene and cell therapy products.
In November 2020, the company opened its GMP suites for process development and clinical production of plasmids in a phase I project. Now, the series A financing will help the company start up commercial production in the next phase of its project.