Shanghai-Suzhou – Suzhou, China, Hong Kong and Shanghai, September 8, 2022 – Jade Biomedical Co. Ltd., (“Jade Bio”) a Suzhou based CXO biologics service company proving contract services for companies developing biologic therapeutics from its Contract Quality, Bio-CQO® and Contract Testing Laboratories (CTL), Bio-Pacific Laboratories® announced the completion of Series B Financing. The funds will be used for the expansion of its biologics testing (Bio-Pacific Laboratories, BPL) services and operations.
VMS Led the round, with participation from Panacea Healthcare.
Founded in 2017 by China National Innovation Expert, a US bio-pharmaceutical GMP quality management veteran Dr. Claudia Qiao Lin, Jade Bio was the first ever to propose and register the trademark for a new business model, Bio-CQO®, quality contracting service for biological products. In the past 5 years, Jade Bio has successfully helped leading Chinese and US companies in a repertoire of GMP quality service areas contributing to successful IND and BLA filings on more than 50 projects covering monoclonal antibody, ADC, CAR-T and other CGT, mRNA products.
Jade Bio has developed, validated, and holds ownership of proprietary technologies, for advanced test methods (e.g. RCL, Replication Competent Lentivirus), all of which have been used in successful product regulatory submissions in China and the U.S. In addition, Jade provides a one-stop biological sample import and export service (inclusive of cold-chain management solutions) by working closely with local and regional government custom officials and hubs, removing logistics obstacles in an ever-expanding globalization trend between Chinese and global companies.
Dr. Claudia Lin, founder, chairman and CEO of Jade Bio, says: “This successful Series B Financing from two influential healthcare investment firms, VMS and Panacea， in the midst of an industry market correction with limited financing opportunities further establishes and enhances Jade Bio’s strong position for the continuation of its upward trajectory, expansion of service offerings, and market reach in China and beyond. The financing builds upon Jade’s strategic collaboration with Charles River to combine Charles River’s industry expertise with JADE’s deep knowledge of local regulatory environments, providing clients with a leading solution. With our partners, we firmly believe that the unique expertise and position Jade Bio has gained in addressing one of the major obstacles that limit initial and long-term product success, i.e. lack of manufacturing quality and GMP compliance, will enable more of the Chinese biologics companies to not only launch high quality products with clinical benefits to the Chinese people, but also expand into US and EU markets.”
Andrew Ng, Head of Healthcare of VMS Group and Investment Partner of Panacea Venture says: “Jade Bio provides premium end-to-end quality and testing technology services for top-tier biopharmaceutical companies, especially for those in the cell and gene therapy industry. Jade is in a leading position of the booming field of biological quality and testing outsourcing services. We are honored to lead this financing round, and we are committed to investing in companies with breakthrough technologies and high growth potential. We are confident that Jade will continue to develop rapidly under the leadership of the founding team.”