Bioino Biotech Secures Nearly RMB 200 Million Series A Funding to Accelerate CDMO and Serum-Free Cell Culture Media Platform Development
VCBeat (WeChat ID: vcbeat) has recently learned that an emerging international CDMOBaiyinuo BiotechnologyAnnounced the completion of nearly RMB 200 million in Series A financing, led byHangzhou TaikunandXingye GuoxinCo-lead investor,Yifeng Capital, Yuanlai Yuanqi, Aopeng Capital, Daohe TechnologyandPingtan FuyingCo-investment: The proceeds from financing will be used for investment in the construction of the company’s production and R&D platform in Taicang, Suzhou, as well as to supplement working capital.
In February 2021, Baizhennuo Biotech completed a Pre-A financing round of nearly RMB 100 million. Ten months later, the company gained recognition from more investment institutions,Dr. Zhao Xiaojian, Founder of Baizhino Biostated: “First of all, we extend our gratitude to the investment institutions and the market for their recognition of Baizinuo Biotech, and thank existing shareholders such as Tigermed for their consistent trust and support in our team and company.
Serum-free cell culture media and biopharmaceutical CDMO are both critical to the development of the biopharmaceutical industry. Bionovogene will remain true to its original mission and responsibilities, leveraging its prominent technical advantages in serum-free cell culture media and CDMO to contribute to the healthy growth of the biopharmaceutical sector.
Since the beginning of 2021, we have made rapid progress. In the face of numerous market challenges, we will unite as one, work harder, and forge ahead, striving to become a world-class CDMO service provider and supplier of serum-free cell culture media in China. The meteoric rise of Baiyinuo Biologics would not have been possible without the support of our investors, upstream and downstream partners, customers, and the government. We are confident that, driven by these collective forces and relying on the joint efforts of our team, Baiyinuo Biologics will inevitably grow into a leading international biopharmaceutical CDMO enterprise and a dominant player in the serum-free cell culture media industry in the near future.
Baizinuo Biologics, established in late 2019, is an internationalized and integrated biopharmaceutical CDMO company with world-class expertise in the research, development, and production of serum-free cell culture media. The company not only provides global pharmaceutical enterprises with services including biopharmaceutical cell line construction and screening, process development, clinical material manufacturing, regulatory filing for clinical trials, GMP manufacturing of commercial products, and supply chain management, but also offers supply chain products such as engineered cell lines and serum-free cell culture media of international leading quality. Baizinuo Biologics has completed the establishment of various biologic drug process development and manufacturing platforms, equipped with advanced R&D facilities and production lines. It has built a high-caliber team spanning R&D, quality management, and production, and has accumulated a substantial client base.
Since its inception, Baizinuo Biopharma has been dedicated to providing CDMO outsourcing services and raw material supply for biopharmaceuticals, leveraging its core strengths to safeguard clients’ intellectual property. In 2021, the company undertook several challenging CDMO projects as well as customized development and production orders for serum-free cell culture media. Currently, the outcomes of these services have achieved industry-leading levels in both yield and quality.
The consistent recognition from the market and investors can be attributed to the team: the founding team, core management, and key technical personnel of Baizinuo Biologics all possess extensive work and management experience in leading international biopharmaceutical supply chain and outsourcing service enterprises. They have a deep understanding of CDMO operational mechanisms, are adept at precisely seizing market opportunities, and demonstrate the capability to lead their team to emerge as a significant force in the fields of biologics outsourcing services and raw material supply.
Meanwhile, leveraging the founding team’s years of dedication and accumulated expertise in the outsourcing services sector, Bainuo Biology is better positioned to gain recognition from domestic and international clients, demonstrating strong potential for rapid global market expansion.
From a technical perspective, Baixinuo Biotech possesses internationally leading capabilities in the customized development of serum-free cell culture media. This capability effectively supports CDMO R&D and large-scale production services, while alleviating the long-standing reliance of Chinese biopharmaceutical companies on imported raw materials. The company adheres to world-class quality management concepts and maintains a robust quality control system, enabling it to establish R&D and production systems that comply with both international and domestic GMP standards.
Currently, Baiyinno Biotech has largely completed the preliminary R&D of most of its serum-free media products and gradually established its own product portfolio. Its culture media and supplements for protein therapeutics and gene therapy have reached a relatively high industry standard. The company expects to complete pilot-scale trials and the construction of large-scale production lines for both solid powdered and liquid culture media by the end of 2021.
Baixinuo Biologics’ serum-free culture media products offer customized development solutions for pharmaceutical companies, ensuring higher yield, superior quality, and greater stability in large-scale drug production. Additionally, the company boasts a short supply lead time, capable of achieving stable delivery within two months—significantly faster than the typical 6- to 10-month lead time required for bulk orders of serum-free culture media from overseas suppliers. Furthermore, Baixinuo Biologics provides a comprehensive product portfolio that meets the R&D and manufacturing needs of various therapeutic modalities, including protein therapeutics, vaccines (for human and veterinary use), and gene and cell therapies.
It is reported that Bainuo Biologics is currently undertaking R&D projects for various therapeutics, including antibody-drug conjugates (ADCs), ophthalmic cell therapy products, and fusion proteins, as well as the development and production of primary cell culture media. The broad portfolio of contracted projects positions Bainuo Biologics to evolve into an integrated, comprehensive CDMO service provider, offering greater growth potential compared to competitors with limited, homogeneous service capabilities. This strategic advantage affords Bainuo Biologics broader market opportunities in the international outsourcing sector.
Regarding the investment in Baizhinuo Biotech,Co-lead Investor: Hangzhou TaikunStatement: Including Taikun Fund, another affiliated fund under Tigermed’s Taiyu Investment has also continuously led the investment rounds in Bainuo Biologics. This decision is primarily driven by our confidence in the Bainuo Biologics team’s strengths in the CDMO and serum-free culture media sectors, their prominent international growth mindset and global vision, their deep expertise and extensive network within the field, as well as the robust rapid-growth trajectory demonstrated since inception. These factors reinforce our conviction that Bainuo Biologics is poised to emerge as a leading player in the industry.
Tigermed also looks forward to engaging in deep, multi-faceted collaboration with Baizhennuo Biotechnology to jointly empower the development of Chinese biopharmaceutical enterprises and fuel the rapid ascent of China’s biopharmaceutical industry!
Co-lead Investor: Xingye GuoxinIt also acknowledges that, with continuous investment in the research and development of biopharmaceuticals both domestically and internationally, as well as the launch of new products, the biopharmaceutical CDMO industry is currently experiencing rapid growth. In the future, the core competitiveness of the industry will depend on advantages such as the internationalization of CDMO companies, technological leadership, and scalable services.
Leveraging its international team and unique technological advantages, Bainuo Biotechnology has established a world-class R&D and production base in Taicang, Suzhou. The facility not only gathers numerous industry elites but is also equipped with multiple large-scale production lines of various categories and specifications. Notably, the globally leading 6,000L single-use fed-batch protein production line has been successfully delivered, ushering in a new era for the large-scale production of proteins using single-use technologies.
Leveraging its world-class, domestically developed serum-free culture media R&D and production platform, along with an international-standard quality control system, Baiyinuo Biotech is well-positioned to provide biopharmaceutical companies with more efficient, cost-effective one-stop services. We are confident that Baiyinuo Biotech will earn greater recognition and trust from customers both in China and overseas, rapidly emerging as a leader in the industry.
Hangzhou Taikun Fund is a biomedical industry fund jointly established by Tigermed, Hangzhou Capital, and Hanggao Sci-Tech Innovation. Leveraging Tigermed’s industrial layout in clinical CRO services and aligning with the strategic development of Hangzhou’s pharmaceutical industry, the Taikun Fund operates on a market-oriented basis. Focusing on the life and health industry, it prioritizes investments in enterprises engaged in innovative medical devices, biopharmaceuticals, healthcare services, healthcare informatization, digital therapeutics, intelligent manufacturing, and nutritional health.
Xingye Guoxin Asset Management Co., Ltd. (hereinafter referred to as “Xingye Guoxin Asset Management”) was established in April 2013 with a registered capital of RMB 3.4 billion. It is an asset management company wholly owned by Industrial International Trust Co., Ltd. (hereinafter referred to as “Industrial Trust”). As the professional platform for Industrial Bank and Industrial Trust to conduct private equity investment and related asset management businesses, the company has long focused on technological innovation as its main thread, with key investments in healthcare, advanced manufacturing, information technology, and other industries.