JOINN Biologics Inc. receives US $60 Million Series A financing led by HG Capital, the fund is dedicated to help JOINN Biologics build a comprehensive biopharmaceutical service platform and become a global biologics CDMO leader.
JOINN Biologics Inc. (hereinafter referred to as “JOINN Bio”) recently completed a $60 million Series A financing. The financing was led by HG Capital, and Nestbio Capital, Hong Kong LINKAGE Holdings, Xiangtang Capital and other institutions jointly participated in the investment. This round of financing will be mainly used for the construction of 100,000-liter capacity for biopharmaceutical manufacturing of JOINN Bio, as well as business expansion in China and the United States.
Experienced and dedicated technical team
Established in early 2018, JOINN Bio has a core technical team of nearly 200 staff from both China and the United States. 20% of JOINN Bio’s experts have more than 15 years’ experience in the field of protein-based drug R & D and production. JOINN Bio provides its global customers with one-stop solutions from cell line construction, developability analysis, process development, and product quality research to pilot plant and commercial production. JOINN Bio is well equipped to meet the diverse needs of its customers.
Leverage JOINN brand advantages to provide one-stop service for the biopharmaceutical industry
By leveraging JOINN Labs brand and customer resources, JOINN Bio provides comprehensive services covering antibody drugs, recombinant protein drugs, gene therapy, and cell therapy; JOINN Bio offers an end-to-end, concept to commercial manufacturing one-stop service for protein drug development to the biopharmaceutical industry.
International services to achieve dual registration in China and the US
As a domestic CDMO service provider with a CGMP production site in the United States, JOINN Bio’s US manufacturing facility is equipped with bioreactors’ production capacity of 1000 L and 2 × 500 L. JOINN Bio US plant has accumulated vast experience in protein drugs large-scale production, operation, and management. At the same time in China, JOINN Bio has built production facility to meet the 2 × 200 L, 2 × 500 L manufacturing scale and supporting Process Development activities. JOINN Bio plans to build a production facility with 100,000-liter manufacturing capability for BDS (bulk drug substance) in China that meets the GMP standards of China, the United States, and the European Union. The production facilities and experienced teams in the United States and China and will support biopharmaceutical companies to achieve dual registration in these two countries and strategically plan multi-region manufacturing.
Provide cell lines with intellectual property to alleviate industry bottlenecks
Facing the increasingly strict environment for the regulatory approval of new drugs, intellectual property issues are essential to the success of research and development of new therapies by biopharmaceutical companies. Since its inception, JOINN Bio has developed an engineered cell line with full intellectual property rights. This helps to reduce the large amount of intellectual property expenses in the late commercialization of novel therapies. Currently, JOINN Bio has established a host cell system that satisfies the requirement from pilot to commercial production. In addition, JOINN Bio has established quality standard, release assays, and in-depth structural characterization for monoclonal antibodies and recombinant protein drugs.
Join hands with professional investors to build a leading company in the pharmaceutical CDMO field
Regarding the investment in JOINN Bio, Zeng Zhiqiang, a managing partner at HG Capital Medical Fund, said, “HG Medical has always adhered to the investment strategy of working with the industry leader in a specific segment, and is definitely optimistic about opportunities in the CRO and CDMO field driven by the global, especially China or other emerging-market countries, upsurge of innovative medicine. JOINN Labs is an industry leader in the field of biomedical CRO through years of hard work. In addition to strong technology platform and high-quality service system, more than 60% of Chinese biopharmaceutical companies are JOINN Labs’ customer. The excellent track record and brand recognition form the foundation to extend to those customers in the area of CDMO services.
We look forward to the joint effort of HG Medical Fund and JOINN to leverage HG Medical’s resources in the field of biomedicine and clinical services to assist JOINN Bio quickly becoming a world-class biopharmaceutical CDMO. “
About HG Capital
HG Capital is a private equity investment institution co-founded by a group of professionals from well-known investment institutions at home and abroad. The company’s vision is to become a local asset management institution with international influence, focusing on private equity investment in the Chinese market, promoting the growth of Chinese SMEs into industry leaders. At present, it manages a number of equity investment funds such as medical health funds, TMT funds, cultural funds, and the management asset exceeds USD 2.2 billion.