GBB Lands USD 15M Pre-Series B Funding Led by Tiger Jade Capital
Wednesday, September 14, 2022
(Press Release) – Great Bay Bio (hereinafter referred to as “GBB”) is pleased to announce today the completion of its USD 15M Pre-series B funding led by Tiger Jade Capital (hereinafter referred to as “Tiger Jade”). The funding was oversubscribed and upsized with participation from one of the world’s top life science MNCs, AEF Greater Bay Area Fund (managed by Gobi Partners GBA), and Vectr Ventures, as well as existing institutional investors. The Pre-series B round was advised by DL Securities, a boutique investment bank based in Hong Kong. Tiger Jade was seeded by TigerMed, one of the largest CROs of clinical trials in PRC and covers over 300 companies/clients in its ecosystem, all of which may require services from GBB directly or indirectly. The other strategic investor is a Fortune 500 life science MNC with a capitalization over USD 200B. Their business spans over 125 countries, thus providing an anchor for GBB’s global business expansion going forward. The funds raised will mainly be used to accelerate the development of AI-empowered bioprocessing platforms, the construction of production facilities; as well as the establishment of a global commercial development team. Looking ahead, GBB will strive to develop and provide an “end-to-end” AI-enabled bioprocessing platform to satisfy the R&D and commercial demands of global customers.
Driven by growing global needs for higher R&D and bioprocessing efficiency, GBB pioneers a concept of “AI + Bioprocessing” and aims at a vision of “Global Bioprocessing Made Simpler and More Efficient”. Two proprietary AI+CMC technology platforms, AlfaCell® and AlfaMedX®, have been successfully commercialized and used by multiple biopharma companies. Empowered by the AlfaCell® platform, the uncertainties of productivity and stability are eliminated in the cell line development process, thus significantly reducing the workload and improving the efficiency of upstream bioprocess development. The AlfaMedX® platform enables GBB to quickly establish a culture medium library of more than one thousand formulas and provide rapid customized culture medium development services to customers. Currently, AlfaCell®, AlfaMedX® and other AI solutions have been used to improve the CMC process of various biological drugs including fusion proteins, monoclonal antibodies, bispecific antibody drugs, etc. Meanwhile, GBB’s end-to-end solutions have supported R&D of synthetic biology, industrial enzyme preparations, cultured meat, and other biomanufacturing fields.
