Auscon Biopharmaceutical Completes RMB 1.5 Billion Financing Round to Expand CDMO and Cell Culture Media Capabilities

On December 28, 2021, Thousand Oaks Biopharmaceuticals Co. Ltd. (hereinafter referred to as “Thousand Oaks”) announced the completion of a new round of financing amounting to RMB 1.5 billion. This round was led by existing shareholders Jinshi Investment and CDH Baifu, with participation from several other renowned institutions. China Renaissance Capital served as the exclusive financial advisor in this transaction.

Thousand Oaks is committed to becoming a leading enterprise in China’s biopharmaceutical industry, integrating raw materials, consumables, pharmaceutical equipment, technical services, and contract manufacturing. Focusing on CMC Biomanufacturing-related businesses, the company provides customers with one-stop services covering “R&D, process development, production, logistics, technical support, and after-sales service.” Thousand Oaks boasts an international operations and technical team with years of experience in biopharmaceutical process development and industrialization. The company offers advanced-level CDMO services and has successfully passed quality audits conducted in accordance with the standards of China’s NMPA, the U.S. FDA, and the EU’s EMA. With production capabilities for 2,000L batch culture and 500L perfusion culture, its formulation workshop is equipped with vial filling/lyophilization and pre-filled syringe/cartridge filling capabilities, enabling simultaneous multi-product manufacturing services for both domestic and international clients.

Jianshun Biologics, a subsidiary of Thousand Oaks Group, was established in 2011. It currently operates advanced laboratories and production bases in Lanzhou, Haimen, and Shanghai (China); San Francisco (USA); and Busan (South Korea). The company is primarily dedicated to the development of high-quality, high-efficiency serum-free, customized, chemically defined cell culture media and associated process development, while also providing formula manufacturing, technical support, and ancillary services. Its products are mainly applied in the process development and production of biopharmaceuticals, cell therapies, and human/animal vaccines. As a leading industrial-scale supplier of powdered culture media, Jianshun Biologics has served over 200 clients, supporting more than 100 Phase I/II and over 30 Phase III clinical-stage recombinant protein biologic projects, with certain products filed with the U.S. FDA under Drug Master Files (DMFs).

Following the completion of this financing round, Dr. Luo Shun, Chairman and President of Thousand Oaks Biopharmaceuticals Co., Ltd., stated: “We extend our sincere gratitude to all investment institutions participating in this round of financing. In response to the rapid development of the biopharmaceutical industry and growing customer demands, the funds raised will be utilized for capacity expansion across multiple locations and the development of new technologies within our CDMO and cell culture media business segments. Looking ahead, Thousand Oaks’ CDMO business will strategically focus on key areas including recombinant proteins, viruses, nucleic acids, and antibody-drug conjugates (ADCs). Leveraging our strengths in the research, development, and production of culture media, we will actively engage in deep collaborations with high-quality partners across the supply chain industry. Our goal is to provide biopharmaceutical clients with one-stop CMC (Chemistry, Manufacturing, and Controls) comprehensive solutions, thereby producing high-quality biologics that are accessible and affordable for patients worldwide.”

Jinshi Investment, established in October 2007, is the domestic comprehensive investment platform of CITIC Securities, China’s leading investment bank. As one of the most influential private equity firms in China, it covers sectors such as healthcare, high-end manufacturing, industrial energy, TMT, new materials, and defense industry. Over the years, it has received numerous awards and honors from institutions including Zero2IPO, CVSource, and China Securities Journal.

Dinghui Baifu is an investment platform under CDH Investments, focusing on technology investments and building specialized, high-quality funds. It conducts investments based on strategies centered on emerging trends, regional expansion, and counter-cyclical opportunities, and has systematically laid out its portfolio in sectors such as semiconductors, high-end equipment, biopharmaceuticals, artificial intelligence, and global expansion of Chinese tech companies. To date, it has invested in over 100 projects, with assets under management exceeding RMB 70 billion. Upholding a spirit of perseverance and hard work, it is committed to creating long-term value.

Capital Galaxy is a leading new-economy investment bank in China, focusing on three major sectors globally: TMT, consumer, and healthcare. Beyond its investment banking services, Capital Galaxy manages one RMB-denominated fund and one USD-denominated fund. The firm maintains offices in Beijing, Shanghai, Los Angeles, and San Francisco, and holds a license to operate in the U.S. securities market. Healthcare is a key focus area where Capital Galaxy possesses deep expertise; it has ranked for four consecutive years as the new-economy investment bank with the highest number of healthcare industry transactions in China. Furthermore, Capital Galaxy boasts the largest, most professional, and most comprehensively integrated healthcare investment banking team in the country.