BeyondBio Completes Over RMB 100 Million Series B+ Financing to Empower "Made in China" Innovation

Shanghai BIOENFINE Biotechnology Co., Ltd. (hereinafter referred to as “BIOENFINE”), a leading provider of large-scale animal cell culture technology services and R&D and manufacturing of culture media, recently announced the completion of its Series B+ financing round, raising over RMB 100 million. Led by Hankang Capital, with continued increased investment from founder Tan Wensong and Series B investor Shenzhen Nanshan SME Development Fund, this round brings strong new support for BIOENFINE’s steady growth. Going forward, BIOENFINE will further strengthen its capabilities in commercializing products and services, accelerate the R&D and upgrading of key technologies in animal cell culture, comprehensively enhance the localization of critical raw materials such as culture media and related equipment, continuously empower China’s “intelligent manufacturing,” and safeguard and promote the healthy and rapid development of the biopharmaceutical industry.

BIOENFINE was established in 2014. Its founding team boasts over three decades of technical expertise and application experience in key technologies for animal cell culture, industrial-scale processes, and bioreactor engineering. Building upon the Animal Cell and Tissue Engineering Team at East China University of Science and Technology, BIOENFINE has attracted high-level talent from prestigious institutions and multinational corporations such as the University of Minnesota, 3M, and Pfizer. The company currently employs 108 staff members, with its R&D and manufacturing capabilities aligned with international standards.

Within just six years, BIOENFINE has rapidly achieved breakthroughs in multiple key technologies for the industrial manufacturing of serum-free/protein-free culture media, securing over 30 authorized patents. In the field of antibodies, BIOENFINE assisted client companies in successfully establishing China’s first fusion protein drug production line featuring cell densities at the ten-million level and bioreactor scales at the thousand-liter level. Its independently developed Eden series of CHO cell serum-free culture media has supported more than 30 Investigational New Drug (IND) applications, with over 80 technical support and product service projects delivered. In the vaccine sector, BIOENFINE helped enterprises create China’s largest single-site influenza vaccine production line based on MDCK cell serum-free high-density suspension culture technology, and successfully completed a patent licensing collaboration worth over RMB 10 million with a leading European multinational corporation. In the field of cell therapy, BIOENFINE’s independently developed HIPP-T009 series of serum-free culture media for immune effector cells became the first truly serum-free medium launched in China suitable for high-density culture and expansion of immune effector cells such as CAR-T and CAR-NK cells, and has already supported clients in successfully submitting clinical trial applications.

BIOENFINE plans to complete the construction of its new culture media factory in the Shanghai Jinshan Industrial Park in the fourth quarter of 2021. The facility will be a world-class culture media plant integrating production operations, quality control, engineering construction, material procurement, and warehousing and logistics. It will feature intelligent manufacturing capabilities for cryogenic jet-milled powders at scales of 1,000 liters, 10,000 liters, and 100,000 liters, with a maximum batch production scale of 100,000 liters. The annual production capacity will reach 55 million liters for powdered culture media and 250,000 liters for liquid culture media. Its products comply with ISO 13485:2016 certification and GMP system requirements, and have obtained certifications from the NMPA and the U.S. FDA, as well as completed product registration filings in the European Union. Meanwhile, the company will fully implement informatization, supported by an electronic quality system and a lean production management system, to ensure stable, efficient, and orderly production management.

Professor Tan Wensong, Founder and Chairman of BIOENFINE“The management stated: ‘We extend our sincere gratitude to Hankang Capital and our existing shareholders for their trust and support in the BIOENFINE team. Leveraging over three decades of scientific research, teaching, and industry-integrated R&D achievements from a National Key Laboratory, BIOENFINE has undergone more than six years of construction and development. Our capabilities and strengths in the continuous innovation of key technologies for large-scale animal cell culture, in providing technical solutions to clients, and in manufacturing high-performance, serum-free media of international quality have been thoroughly validated by the market and recognized by our customers. Moving forward, we will remain steadfast in our original entrepreneurial mission, providing core technological support and services, as well as ensuring the supply of key raw materials and equipment of international quality, for the R&D and industrialization of products such as antibody and recombinant protein drugs, vaccines, and cell therapies. We believe that this capital increase will accelerate BIOENFINE’s emergence as an industrial benchmark for “Intelligent Manufacturing in China” in the fields of cell culture technology and media brands.’”

Jin Ming, Partner at Hankang Capital, the Lead Investor in This RoundIt stated: “Cell culture media are critical raw materials for the research, development, and production of biopharmaceuticals, serving as a cornerstone for the growth of the biopharmaceutical industry. Leveraging over three decades of technical expertise in animal cell culture and industrial process optimization, the team’s series of serum-free culture media products have gained recognition from leading domestic antibody companies and vaccine clients both in China and abroad. Hankang Capital has consistently focused on the upstream and downstream segments of the innovative drug industry chain and firmly believes that BIOENFINE will emerge as the leading enterprise in the niche sector of serum-free cell culture media, thereby supporting the development of China’s biopharmaceutical industry and enabling patients to access antibody, vaccine, and cell therapy products with lower costs and superior performance.”

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 is committed to “empowering pharmaceutical innovation and safeguarding human health.””As a core corporate value, we track the latest global research findings and trends in new drug development. Centering on unmet clinical needs, we strategically focus on key therapeutic areas including oncology, autoimmune diseases, antiviral therapies, metabolic disorders, and neuropsychiatric conditions. By concentrating on major diseases and critical clinical demands, we conduct in-depth research and proactively invest in startups equipped with top-tier teams and technological platforms. We provide professional insights, experience, and resources to accelerate their growth into industry leaders.