Chime Biologics Announced Closing of $190 Million Series A+ Financing

(VCBeat) Mar. 26, 2021 -- Chime Biologics, a world-class Contract Development and Manufacturing Organization (CDMO) based in Wuhan, China, today announced that it has secured a total commitment of US$190 million investment from institutional investors, and over $100 million investment has already been closed today. The latest round was led by VMS Group, with participation from Fidelity International and Panacea Venture. This funding is followed by a $125 million Series A round that Chime Biologics completed in early 2020.

Chime Biologics is located in Wuhan Bio-Lake Biotech Industry Development Zone of China (China Optics Valley), and has the world's first GE KuBio modular bio-manufacturing facility, which complies with global quality standards of ICH, FDA, EMA and NMPA. As a professional CDMO service provider of biological products, Chime Biologics has an experienced professional team and the most advanced equipment, which can provide all CMC services from early development to commercial production.

Since put into production in 2016, Chime Biologics has provided high-quality products for all customers, and completed nearly 30 batches of 2000L GMP production (batch success rate 100%). The company has rich experience in technology transfer, scale-up, process characterization and process performance qualification.

In order to meet the increasing customer demand for CDMO services, Chime Biologics has started the second phase of its facility expansion, and plans to build a CDMO industrial base with a total production capacity of more than 140,000L in about five years.

VMS Group is a leading multi-strategy financial group, providing asset management, brokerage and corporate finance advisory services. VMS Private Equity specializes in growth capital, with a focus on China-related investments in healthcare, technology, media, telecom (TMT) and consumer sectors. As of today, VMS Group has successfully completed more than 100 investments both onshore in China and offshore around the world since inception, and currently manages total assets in excess of USD 3.8 billion .

Fidelity International offers investment solutions and services and retirement expertise to more than 2.5 million customers globally. Operating in more than 25 countries and with $706.3 billion in total assets, its clients range from central banks, sovereign wealth funds, large corporates, financial institutions, insurers and wealth managers, to private individuals.