Chime secures $190M to expand biopharma manufacturing

By The Science Advisory Board staff writers

March 26, 2021 -- China-based contract development and manufacturing organization (CDMO) Chime Biologics has secured $190 million to finance the second phase of its biomanufacturing facility in Wuhan.

The facility, which opened in 2016, meets the regulatory quality standards of the International Council for Harmonisation of Technical Requirements for Pharmaceuticals for Human Use (ICH), the U.S. Food and Drug Administration (FDA), the European Medicines Agency (EMA), and National Medical Products Administration (NMPA).

Phase two plant under construction.
Phase two plant under construction. Image courtesy of Chime Biologics.

Now, to meet the increasing demands of CDMO services from various customers, Chime has started the second phase of the facility's expansion to increase its total manufacturing capacity to more than 140,000 L within the next five years. Chime provides support to the biopharmaceutical industry from early drug development to late-stage clinical and commercial current good manufacturing practice (cGMP) production.

The financing round was led by VMS Group, followed by Fidelity International and Panacea Venture. Chime previously secured $125 million in financing in early 2020.

Copyright © 2021

CPhI North America
August 10-12
Philadelphia, Pennsylvania United States
Bioprocessing Summit
August 16-19
Boston, Massachusetts United States
6th Annual CAR-TCR Summit
August 30 - September 2
European Congress of Immunology (ECI) 2021
September 1-4
Belgrade Serbia
Medical Affairs Strategic Summit (MASS)
September 13-15
New Brunswick, New Jersey United States
Science Advisory Board on LinkedIn
Science Advisory Board on Facebook
Science Advisory Board on Twitter