BeyondCell Biotech Secures RMB 200 Million Series B++ Funding to Advance 'Made in China' Serum-Free Media Innovation and Manufacturing Capabilities

VCBeat has learned at the earliest opportunity that,Shanghai Beitongji Biotechnology Co., Ltd. (hereinafter referred to as “Beitongji”) Announces Completion of RMB 200 Million in Series B++ Financing. This financing round was led byLegend Capital led the investment, with ADDOR and China Tsing Song Investment Ltd participating, and Shanghai Hankang Private Equity Fund Management Co., Ltd increasing its capital.. This round of financing will further strengthen BIOENFINE's position in "Intelligent Manufacturing in China"Innovation, R&D, and Production Capabilities in the Field of Serum-Free Culture Media,Continuously empowering the development of China's biopharmaceutical industry.

It is reported that in June last year, BIOENFINE completed its Series B+ financing round with investment from Hankang Capital. Why has BIOENFINE once again gained the favor of investment institutions in less than a year? What progress has BIOENFINE made over the past year?

In this regard,Dr. Tan Wensong, Chairman of BIOENFINEstated that, first, the company’s products and services have gained broader customer recognition in fields such as antibodies, vaccines, and cell therapy, with annual revenue doubling.

Secondly, with the full commissioning of BIOENFINE’s Shanxi production base, a solid foundation has been laid for the company’s scaled, digitalized, and internationalized manufacturing of cell culture media. The current annual production capacity stands at 55 million liters for powdered media and 250,000 liters for liquid media, with a maximum single-batch volume reaching 100,000 liters.

Finally, after becoming the first domestic culture media manufacturer to obtain BSI ISO 13485 quality system certification, BIOENFINE’s Jinshan production base passed the FDA system audit in late December. It is expected to complete the FDA on-site audit in the first half of 2022, thereby enabling clients to pursue dual regulatory submissions in China and the United States as well as in China and Europe.

BIOENFINE was founded in December 2014 by Professor Tan Wensong’s team at East China University of Science and Technology. It is dedicated to providing cost-effective, serum-free culture media products of international quality, along with professional technical services, for the biopharmaceutical industry, including antibodies, vaccines, and cell and gene therapies.

BIOENFINE, leveraging over three decades of technological and application expertise accumulated by its founding team in the fields of animal cell culture processes and bioreactor engineering,Nearly 100 self-developed catalog-type serum-free culture media have beenSupported over 50 clinical trial applications in the biopharmaceutical industry, including antibodies, vaccines, and stem cell/cell therapies., providing nearly 100 cell culture technology services and boasting numerous project achievements that are “firsts in China” and “worldwide pioneers.”

In the field of antibodies,BIOENFINE has successfully assisted pharmaceutical companies in establishing China’s first fusion protein drug production line, featuring a cell density of over 10 million cells/mL and bioreactor scales exceeding 1,000 liters. Its independently developed Eden series of serum-free CHO cell culture media has supported more than 30 Investigational New Drug (IND) applications, with over 80 technical support and product service projects delivered.

In the field of vaccines,BIOENFINE has independently developed the culture media required for its full range of vaccine products. Notably, it successfully established China’s first influenza vaccine production line based on MDCK cell serum-free high-density suspension culture technology, with the largest single-line capacity in the country. Additionally, it successfully completed a patent licensing collaboration with a top European multinational corporation, valued at over RMB 10 million.

In the field of cell therapy,BIOENFINE’s independently developed HIPP-T009 series of serum-free media for immune effector cells has become the first truly serum-free medium launched in China that supports high-density culture and expansion of immune effector cells such as CAR-T and CAR-NK cells. As of 2021, it was also the first and only serum-free medium in China successfully applied to Investigational New Drug (IND) applications for cell therapy products by biopharmaceutical companies.

Among upstream core raw materials, cell culture media are hailed as the “chips” of biopharmaceuticals, as their quality, efficiency, and process standards directly impact the ultimate translation of outcomes across the entire biopharmaceutical industry chain. As a key raw material in biologics manufacturing, the domestication of culture media is undeniably critical to addressing “chokepoint” challenges.

BIOENFINE believes that the localization of cell culture media should embody “Intelligent Manufacturing in China,” leveraging abundant domestic raw material resources, robust local R&D and innovation capabilities, and internationally leading manufacturing and quality management standards. Against this backdrop, BIOENFINE’s development strategy has consistently prioritized continuous innovation in R&D and the adoption of world-class production processes and quality management systems.

Since its establishment, BIOENFINE has consistently maintained substantial R&D investment in new products and new technologies, among which,R&D personnel account for nearly 30% of the workforce, while R&D expenditure has remained above 40% for consecutive years.Sustained high-level investment has enabled BIOENFINE to grow rapidly within just a few years, with its product quality and technical service capabilities surpassing those of imported counterparts. The company has earned widespread recognition and acclaim from enterprises in China’s antibody, vaccine, cell therapy, and gene therapy sectors.

In addition to innovative R&D, BIOENFINE has also made significant efforts in supply chain and quality management. The company has investigated and evaluated numerous raw material suppliers both domestically and internationally, establishing a rigorous "1+2" raw material supply model. Under this model, each type of raw material is sourced from one imported supplier and at least two domestic suppliers, ensuring both the quality of raw materials and the stability of supply.

In mid-December 2021, Shanghai Beijin Biotechnology Co., Ltd. (hereinafter referred to as “Beijin Bio”), a wholly-owned subsidiary of BIOENFINE and its Phase II culture media production base, commenced full-scale operations at the Jinshan Industrial Park. Constructed in compliance with the ISO 13485:2016 quality management system and GMP requirements, and employing the LSS Lean Six Sigma system for production management, Beijin Bio is a world-class facility that has achieved consistent scale-up of low-temperature needle-milled powder processes from kiloliter to ten-thousand-liter and hundred-thousand-liter scales. With a maximum batch size of 100,000 liters, the facility boasts an annual production capacity of 55 million liters of powdered culture media and 250,000 liters of liquid culture media.

Furthermore, after becoming the first culture media manufacturer in China to obtain BSI ISO 13485 quality management system certification, BIOENFINE’s Jinshan production base successfully passed the FDA systems audit in late December. It is expected to complete the FDA on-site inspection and file multiple cataloged culture media products with the FDA in the first half of 2022, thereby enabling clients to pursue dual regulatory submissions in both China–US and China–EU markets. The full-scale operation of the Jinshan production base has allowed BIOENFINE to achieve scaled, informatized, and internationalized culture media manufacturing.

Shanghai Beitongji Biotechnology Co., Ltd. was established in December 2014, specializing in technical services for large-scale, high-density, serum-free suspension culture of animal cells, as well as the development and manufacturing of related raw materials. The company provides high-quality, one-stop services to a broad range of biopharmaceutical enterprises, covering cell culture process development and optimization, culture medium formulation design, and culture medium processing and manufacturing. Headquartered with its R&D center in Zhangjiang Pharma Valley, Shanghai, the company’s Phase II production base (Shanghai Beijin Biotechnology Co., Ltd.) is located in Jinshan, Shanghai. Currently employing nearly 130 staff members, the company’s R&D and production capabilities are aligned with international standards.

Legend Capital is an independent professional venture capital firm under Legend Holdings, established in April 2001. Its core business focuses on early-stage venture capital and growth-stage expansion investments. Currently, Legend Capital manages U.S. dollar and RMB funds with a total scale of nearly $9 billion, prioritizing innovation and growth opportunities in China. As of 2021, Legend Capital had invested in over 500 companies, among which more than 90 have successfully listed or been quoted on domestic or overseas stock exchanges, and over 70 have exited through mergers and acquisitions.

Legend Capital, as an industry pioneer, began its investment layout in the medical sector in 2007. To date, it has cumulatively invested in over 100 projects in the healthcare field, with total investments exceeding US$1.3 billion. Its investment portfolio covers multiple sub-sectors, including biopharmaceuticals, medical devices and diagnostics, professional services, gene technology, and digital health. The firm has established deep strategic positions across disease spectra such as cardiac surgery and medicine, neurosurgery, diabetes, and oncology. By working closely with its portfolio companies, Legend Capital has cultivated a unique ecosystem of medical resources.

Hankang Capital (formerly Shanghai Jianxin Capital) is a venture capital firm dedicated to China’s biopharmaceutical industry. Focusing on major diseases and unmet clinical needs, it systematically invests in companies with outstanding teams and platform technologies. Through long-term, sustained investment and deep value-added services, Hankang Capital helps these companies grow into industry benchmarks.

The Company upholds “Empowering Pharmaceutical Innovation, Safeguarding Human Health” as its core corporate values. It tracks the latest global research findings and trends in new drug development, focuses on unmet clinical needs, and strategically prioritizes key therapeutic areas including oncology, autoimmune diseases, antiviral therapies, metabolic disorders, and neuropsychiatric conditions. By concentrating on major diseases and critical clinical demands, the Company conducts in-depth research and proactively invests in startups equipped with top-tier teams and technological platforms. It provides professional insights, expertise, and resources to accelerate their growth into industry leaders.

Qingsong Capital is a venture-stage private equity investment firm focused on the biotechnology and healthcare sectors. Its management team possesses extensive expertise in the medical industry and private equity investment. We are committed to growing alongside the most innovative biopharmaceutical companies, driving technological and commercial innovation in China’s life sciences and healthcare industries. Adhering to a research-driven investment approach, we engage deeply in the development of our portfolio companies, with a focus on biotechnology, pharmaceuticals, medical devices, innovative healthcare services, and the intersection of the broader health industry with cutting-edge technologies. Since its inception, the fund has completed investments in numerous leading projects across various specialized segments.

ADDOR was established through a mixed-ownership reform within the Jiangsu High-Tech Investment Group, a well-established and renowned venture capital firm. It ranks among the industry leaders in terms of industry research capabilities, assets under management, and investment specialization, making it one of the most influential venture capital institutions in China. As of January 2022, ADDOR’s management team had cumulatively managed RMB 121.8 billion in capital, invested in and supported 1,125 startups, and helped 221 of these companies list on domestic and international capital markets.

Over the past three years, ADDOR has consecutively won awards such as “Annual China Venture Capital Firm,” “Best China Venture Capital Firm,” “Most Competitive Venture Capital Firm,” “Excellent Venture Capital Firm – Outstanding Achievement Award,” and “Top 10 Best Venture Capital Firms” in prestigious rankings by Zero2IPO Group, CVSource, Securities Times, the China Venture Capital Association, and Forbes, firmly maintaining its position in the first tier of domestic venture capital firms.