GenScript ProBio Secures $220 Million Series C Financing Led by Legend Capital to Accelerate Global CDMO Expansion

On January 17, Vigene Biosciences announced a Series C financing round of approximately $220 million, led by Legend Capital. This financing represents the largest CDMO industry funding in China since the second half of 2022, with participation from several leading investment institutions active in the biopharmaceutical sector. GenScript Biotech Corporation, the parent company, expressed confidence in the long-term development of its subsidiary, Vigene Biosciences, and also invested approximately $30 million in this round.

GenScript Biotech Corporation (hereinafter referred to as “GenScript”)’s subsidiary, ProMab Biotechnologies, is a one-stop biopharmaceutical R&D and manufacturing platform incubated by GenScript, leveraging its years of technical expertise and client resources in the field of biologic drug discovery and development. It is primarily dedicated to providing comprehensive CDMO services to the biopharmaceutical and gene and cell therapy industries. Since its establishment, ProMab has undertaken more than 80 global CMC and CMO projects in the biopharmaceutical CDMO sector, helping clients secure over 20 global IND approvals. In the gene and cell therapy CDMO sector, as one of the earliest pioneers in the industry, ProMab has accumulated experience from more than 60 global CMC projects and successfully supported over 20 IND filings, maintaining a leading position in the industry. With its solid technical foundation, consistent performance delivery, and highly competitive team, ProMab has become one of the most influential CDMO companies.

This round of financing will help Fuming Biotechnology accelerate the capacity expansion and technology platform upgrades for its CDMO business in biologics, gene therapy, and cell therapy. It will also significantly enhance the synergies between Fuming Biotechnology and the healthcare investment sector, thereby further boosting its commercial influence and positioning Fuming Biotechnology among the world’s leading CDMOs.

Shao Weihui, Rotating CEO of GenScript Biotech Corporation“ProBio is the biopharmaceutical contract development and manufacturing organization (CDMO) platform within GenScript Group’s four major business segments. In recent years, ProBio has experienced rapid business growth, supporting numerous domestic and international pharmaceutical and biotechnology companies in advancing their pipelines, while also attracting a cohort of investors focused on the healthcare sector. Clear forward-looking commercial strategies, a robust management system, and a strong talent team constitute the three key drivers behind the continuous development of GenScript and ProBio. Furthermore, in response to the increasingly vibrant innovation atmosphere in the global biotechnology field, GenScript and ProBio will continue to foster innovation and stimulate corporate vitality. Through this round of financing, ProBio will further accelerate the commercialization of global biologics and gene and cell therapies, making significant contributions to the healthcare industry. GenScript Group will remain committed to its corporate mission of ‘making humans and nature healthier through biotechnology,’ continuing to drive rapid business growth and contribute to the sustainable development of the healthcare industry and human society.”

Meng Jiange, Chairman of GenScript Biotech Corporationstated, “We are delighted to see that, in the complex and ever-changing post-pandemic investment landscape, GenScript ProBio has been able to attract numerous top-tier investment institutions to jointly support the company’s development in its CDMO business for biologics and gene and cell therapies. As the newest subsidiary incubated by the GenScript Group, GenScript ProBio has always adhered to the philosophy of ‘Collaboration Accelerates Innovation.’ In recent years, it has helped multiple pharmaceutical companies both domestically and internationally reduce R&D costs and accelerate the translation of pharmaceutical innovations. Taking this financing round as an opportunity, GenScript ProBio will further focus on building and optimizing its one-stop R&D and manufacturing platform for biologics and gene and cell therapies, thereby propelling both the company and the industry into a new stage of development.”

Wang Junfeng, Co-Chief Investment Officer at Legend Capitalstated: “We are highly optimistic about the global competitiveness of China’s CRO/CDMO sector. Despite a complex external environment, leading Chinese enterprises still have the opportunity to deliver high-quality services to international clients and capture significant market share. GenScript ProBio is an outstanding representative of China’s biopharmaceutical and cell and gene therapy (CGT) CDMO industry. It has achieved rapid performance growth over the past three years, earning extensive trust from customers both domestically and internationally. Looking ahead, the company’s technological expertise, brand influence, global customer base, robust talent pipeline, comprehensive management system, and strong financing capabilities will further propel it to a prominent position on the international stage. Legend Capital has invested in more than 140 companies in the healthcare sector, establishing extensive upstream and downstream ecosystem resources in the biopharmaceutical industry, with abundant cases and experience in management empowerment. We look forward to becoming a value-creating shareholder for GenScript ProBio, growing together and achieving mutual success!”

GenScript ProBio, a subsidiary of GenScript, boasts a one-stop R&D and manufacturing platform for biologics. It is primarily dedicated to providing end-to-end CDMO services—from target development to commercial production—for cell and gene therapy (CGT) drugs, vaccines, biologic drug discovery, and antibody protein therapeutics.

GenScript ProBio’s integrated solutions for cell and gene therapy encompass plasmid and viral vector production across all stages, including non-registration clinical trials, process development, registration-enabling clinical trials, and commercial manufacturing. GenScript ProBio’s biopharmaceutical development solutions cover the discovery, engineering, and evaluation of biologics, with a particular focus on antibody drugs. In terms of CDMO services for biologics, GenScript ProBio provides end-to-end CDMO solutions, including cell line development, licensed commercial host cells, upstream and downstream process development, analytical method development, and clinical and commercial manufacturing. Fed-batch and perfusion processes are offered to meet the growing demand for antibody-based protein therapeutics. The GMP manufacturing facilities comply with regulatory requirements from the FDA, EMA, and NMPA.