Medium Bank Secures RMB 100 Million Series B Financing to Advance Domestic Production of Core Upstream Biotech Raw Materials

VCBeat (WeChat ID: vcbeat) has learned at the earliest opportunity that, in recent days,Shanghai MediumBank Biotechnology Co., Ltd. (Medium Bank) announced the successful completion of its RMB 100 million Series B financing round. This marks another round of funding following its Series A financing in June 2021. The current round was led by Gaoke Xinjun, with existing Series A investor Ruiying Capital participating as a follow-on investor.The investment funds will be used to continue increasing investment in innovative R&D, further upgrading the production management quality system, and building mass-production industrial bases, among other initiatives. This will enable continued deepening of expertise in the cell culture media sector, safeguarding biopharmaceutical companies on the path to localization.

Since its establishment nearly three years ago, MediumBank Biotechnology has rapidly gained recognition and support from hundreds of biopharmaceutical companies in the industry, leveraging its robust capabilities in innovative R&D and technical services. In 2021, Phase I of its GMP-compliant MFG1 production facility officially commenced operations, while the construction of the Phase II MFG2 large-scale manufacturing base continued to advance. In 2022, the company achieved ISO 13485 quality management system certification with zero deficiencies, and dozens of biopharmaceutical companies subsequently completed on-site audits of MediumBank Biotechnology’s production facilities. These milestones mark the entry of MediumBank Biotechnology into a new stage of development.

Shanghai MediumBank Biotechnology Co., Ltd. has established a comprehensive presence in the field of cell culture media for CHO cells, hybridoma/myeloma cells, HEK293 cells, insect cells, viral vaccine cells, and T cells/stem cells. Its products and services encompass standardized chemically defined (CD) media for major animal cell platforms, medium optimization and development (MOD) services, and large-scale contract manufacturing (OEM) of powdered and liquid media. These offerings have been validated by over 300 biopharmaceutical companies domestically and internationally, with the performance of most products and MOD services surpassing those of leading international cell culture media manufacturers. Currently, a wide range of MediumBank’s products are being utilized in clinical and commercial production across diverse sectors, including monoclonal antibodies, fusion proteins, veterinary and human vaccines, in vitro diagnostics (IVD), regenerative medicine, and cultured meat.

Mr. Wang Yantao, Chairman and CEO of MediumBank BiotechnologyShanghai MediumBank Biotechnology Co., Ltd. stated that it specializes in the development and industrial-scale production of high-performance, domestically produced chemically defined (CD) culture media formulations, and is capable of providing upstream process holistic solutions for biopharmaceutical enterprises. The company will continue to recruit and cultivate R&D talent, increase investment in innovative research and development, and impose stricter requirements on product performance, versatility, and technical service capabilities. By assisting biopharmaceutical companies in reducing the costs of their most significant raw material inputs, MediumBank aims to truly support the growth of the biopharmaceutical industry and benefit countless patients.

Qin Yangwen, Managing Partner of GaoKe XinJunIt was stated that cell culture media, as one of the core raw materials in the upstream production of innovative biotechnologies such as antibody-based therapeutics, vaccines, and cell therapies, plays a fundamental supporting and safeguarding role. It is critical to the safety and efficacy of final pharmaceutical products and holds immense potential for future growth. The breakthroughs in the domestication of cell culture media achieved by industry peers represented by Shanghai MediumBank Biotechnology Co., Ltd. have resolved the long-standing “chokehold” issues plaguing the sector, realizing a high degree of self-reliance and autonomy in domestically produced solutions for pharmaceuticals and public health. GaoKe Xinjun closely monitors investment opportunities in the innovative growth of upstream life science industries and has established an industrial ecosystem covering innovative biotechnologies, upstream core raw materials, and tools. We look forward to Shanghai MediumBank Biotechnology leveraging this round of financing to deepen its focus on customer needs, continuously optimize its technology platform, and assist domestic biotechnology enterprises in achieving commercialization and global expansion.

Neovision Capital is a professional firm specializing in venture capital, innovation-driven investments, and mergers and acquisitions in the healthcare and high-tech sectors. It has invested in numerous high-growth enterprises in the biopharmaceutical and high-tech industries. Representative portfolio companies in the biopharmaceutical sector include Allist Pharmaceuticals (688578), ACROBiosystems (301080), Hualan Pharmaceutical Packaging (301093), Rendu Biology (688193), Huahao Zhongtian, Jiangsu Genostem Medical, Zhengya Dental, Yimai Yangguang, and Newreat Medical.

Hangzhou Ruiying Asset Management Co., Ltd. was established in 2017 as a professional private equity investment management firm. The company primarily focuses on early-to-mid-stage strategic investments in two key sectors: healthcare and the broader health industry, as well as high-end intelligent manufacturing. By collaborating with major R&D institutions and capital partners, it facilitates strategic incubation and the integration of strategic resources. The company adheres to the philosophy of “identifying project value through market analysis and scientific research, enhancing capital liquidity to create value, and ultimately driving value appreciation through operational and managerial excellence.” Its assets under management approach RMB 1 billion. Representative portfolio companies include Adipogen, Neurith, Hepu Pharmaceutical, Suxin Medical, Zhongrong Technology, Jiudao Technology, Gehuda, and Zhonghailong, among other high-quality, high-growth enterprises.

Shanghai MediumBank Biotechnology Co., Ltd. (hereinafter referred to as “Medium Bank”) was established in 2019 in Zhangjiang Pharma Valley. As an internationally leading service provider, it specializes in the research and development of high-end chemically defined media, as well as offering comprehensive solutions for customized media formulation optimization and development. The company is committed to building a global think tank for high-end culture media.

Currently, MediumBank Biotechnology has established a comprehensive product portfolio and service platform covering six major cell culture media categories: CHO cells, hybridoma/myeloma cells, HEK293 cells, insect cells, viral vaccine cells, and T cells/stem cells. The performance of certain cell culture media products within these platforms has matched or even surpassed those offered by several leading international competitors. A wide range of these products has been extensively adopted by numerous biopharmaceutical companies both in China and abroad across various stages, including biopharmaceutical R&D, clinical trial applications, and commercial-scale manufacturing. Its client base spans diverse sectors of the biopharmaceutical industry, such as monoclonal antibodies, fusion proteins, veterinary or human vaccines, in vitro diagnostics (IVD), regenerative medicine, and cultured meat.