Bionova Scientific Secures $22.3M Equity Investment from Great Point Partners to Expand GMP Manufacturing Capabilities

VCBeat (WeChat ID: vcbeat) learned from foreign media that biopharmaceutical company Bionova Scientific recently secured $22.3 million in financing from the renowned venture capital firm Great Point Partners (GPP). Of this amount, $13.3 million was provided at the closing on June 3, with GPP committing to disburse the remaining $9 million over the next two years.

It is reported that the GPP investment will help Bionova build a 57,000-square-foot GMP facility in California, enabling Bionova to develop clinical-grade protein therapies for its global customer base.

Headquartered in Fremont, California, Bionova Scientific was co-founded in 2014 by a team of biopharmaceutical experts. As a leading service provider in the Contract Development and Manufacturing Organization (CDMO) industry, the company assists clients in manufacturing, developing, and managing biologics, offering end-to-end services that include material research, process development, and contract manufacturing. Additionally, Bionova Scientific provides technology development and support for new biological entities (NBEs), biosimilars, cell culture, and biomedical products.

This investment marks GPP’s second foray into the CDMO sector. Previously, GPP invested in Cytovance Biologics, a CDMO provider specializing in the extraction of therapeutic proteins and antibodies from mammalian cell cultures and microbial fermentations.

“We are delighted to invest in the CDMO sector again and look forward to replicating the success of our investment in Cytovance,” said Noah Rhodes, Director at Great Point Partners. “We have known the Bionova team for many years and look forward to helping them better serve their clients by establishing a world-class GMP facility for biologics in the Bay Area.”

Amy Kong, CEO of Bionova Scientific, stated, “Great Point’s long-term investment track record in the pharmaceutical services industry, along with their prior investment experience with Cytovance, makes them an ideal partner to help accelerate Bionova’s growth.”

“We have established a strong partnership with Great Point Partners, as we are both committed to delivering better services to clients in the Bay Area and around the world,” added Chung Chun, Chief Operating Officer of Bionova.

Great Point Partners (GPP), founded in 2003 and headquartered in Greenwich, Connecticut, USA, is a leading healthcare investment firm. The company currently manages approximately $1.6 billion in equity capital, with a team of 28 professionals executing investments across the United States, Canada, and Western Europe. GPP primarily focuses on the biopharmaceutical industry, pharmaceutical infrastructure, and information technology businesses.

GPP manages three private capital funds and one investment fund, namely GPP I ($156 million), GPP II ($215 million), GPP III, and a public equity fund (BMVF, approximately $1.1 billion). GPP has provided growth equity, growth recapitalization, and management buyout financing to more than 100 growing healthcare companies.

(Compiled by Wang Chan)