GBB
AI Biomedical R&D Company
Hong Kong
December 16, 2024
Today, Great Bay Bio announced the completion of the first phase of its Series B financing. This round of financing was led by a well-known industry investment institution and its affiliated Tiger Jade Capital LLP Beacon Accelerator, with participation from HKSTP Ventures, a Hong Kong family office, and continued support from global biotechnology industry players.The proceeds of this fundraising will be used for the technical platform development of GBB's intelligent drug development ecosystem, as well as further expanding Great Bay Bio’s market influence in global biopharmaceutical development. This also marks a new milestone for GBB in promoting biopharmaceutical development on an international scale.
Since the completion of the last round of financing, GBB's technological upgrades and global commercial layout have been proceeding steadily.In 2024, Great Bay Bio officially launched the "Intelligent Drug Development Ecosystem 1.0," integrating multiple intelligent and automated technology platforms into a closed-loop ecosystem. This system provides end-to-end empowerment for early drug discovery and subsequent bioprocess development, reducing the time from target discovery to Preclinical Candidate (PCC) generation to just eight months, delivering significant value to global partners.The innovative antibody drugs developed by customers through this ecosystem have successfully obtained the approval of the National Medical Products Administration (NMPA) in China and the Investigational New Drug (IND) Application tacit consent from the U.S. Food and Drug Administration (FDA), and the first clinical medication has been administered. Based on mature products and solutions, Great Bay Bio has reached strategic cooperation with several large multinational enterprises in the international market in fields such as life sciences, specialty chemicals, and pharmaceutical CDMOs. Its clients cover different regions including Europe, North America, South America, and Asia, meeting the global biopharmaceutical industry's demand for rapid development and production of new products.。
GBB will continue to drive the innovation of biopharmaceutical technologies through cutting-edge technologies such as AI, automation, and big data analysis, with no halt in the pace of technological advancement.
GBB Co-founder and Chairman, Leung Kwok Lung, stated："Since its inception, GBB has embraced a global perspective, and our benchmark for success is the development of globally differentiated technologies. We are confident in expanding our international influence, particularly in the U.S., Europe, and the Asia-Pacific region, which hold significant market growth potential. Thanks to the strong support from our Series B investors, this will accelerate the commercialization of our innovative technology products, fulfilling our vision of making global bioprocess development simpler and more efficient."
Xu Ansong, CEO of Beibao Accelerator, said："The biggest challenge for AI technology in empowering the biomedical field lies in whether scientific validation aligns with the business model. Innovators often need to go through multiple rounds of animal experiments and human trials before determining if their AI product has potential application effects, but this is still not enough to secure customer buy-in. In contrast, Great Bay Bio's unique technological advantages in bioprocessing areas such as cell line development and media development allow for real-time data feedback and rapid iteration. Combined with a flexible business model, it has already gained the trust of many customers."
About Great Bay Bio
Great Bay Bio is a biotechnology company driven by cutting-edge technologies such as artificial intelligence, big data mining, and automation to advance drug development, with its headquarters located in Hong Kong Science Park. Guided by the corporate vision of "making global bioprocess development simpler and more efficient," Great Bay Bio is committed to addressing various pain points in drug development, such as long cycles, high costs, and low success rates, while striving to enhance human health and value as a long-term goal.
The core team of Great Bay Bio consists of experts from various fields such as medicine, synthetic biology, and artificial intelligence both in China and overseas. The company owns a 3,000-square-meter R&D laboratory base and a CMC platform, which has helped clients obtain the approval of the National Medical Products Administration (NMPA) of China and the Investigational New Drug (IND) tacit permission from the U.S. Food and Drug Administration (FDA). Over the years since its establishment, Great Bay Bio has applied for nearly a hundred patents in AI-driven drug development and successfully commercialized multiple AI technology platforms, establishing long-term cooperation with several leading enterprises both domestically and internationally.
Great Bay Bio has passed the ISO9001:2015 Quality Management System certification, been listed on the 2024 Forbes Asia-Pacific 100 Most Promising Companies list, and won awards such as "Deloitte Rising Star Award," "EY Entrepreneur of the Year Award," "Second Prize in the 15th Shenzhen Innovation Competition," "Hong Kong Global Innovation Awards - Annual Innovation Gold Award, Outstanding Craftsmanship Innovation Award, and Outstanding Technology Application Award." It has also successfully been selected for the Hong Kong Science Park Elite Enterprise Program.
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Great Bay Bio Completes First Close of Series B Financing
Hong Kong
December 16, 2024
Great Bay Bio (GBB) is thrilled to announce the successful first close of its Series B financing round. This milestone was achieved with the round led by a syndication of a well-known strategic investment institution and its affiliate, Tiger Jade Pebble Accelerator. The financing also attracted participation from new investors, including a Hong Kong-based family office, the Hong Kong Science and Technology Parks Venture Fund, as well as continued support from an existing global life science strategic investor. The funds will be instrumental in advancing GBB’s AI-enabled drug development ecosystem and accelerating the global adoption of its innovative solutions. This marks a significant step forward in transforming biologics development on an international scale.
GBB’s commercialization efforts have been gaining momentum, fueled by technical breakthroughs and market-driven solutions. In the cell line development business, GBB’s site-specific cell line development platform, AlfaCell, has enabled customers to secure clinical trial approvals from both China’s National Medical Products Administration (NMPA) and the U.S. Food and Drug Administration (FDA). These cell lines have also been successfully applied in multiple projects, with partners expressing satisfaction with improved yields and shorter development timelines, especially for multi-specific antibodies. Additionally, GBB has enhanced its cell culture capabilities by establishing its own ISO 9001:2015-certified cell culture powder manufacturing line, further ensuring a high-quality and secure supply chain for partners. These achievements have positioned GBB as a trusted partner for leading MNCs in the life sciences, specialty chemicals, and pharmaceutical CDMO sectors, meeting the global demand for faster and more efficient new product development.
Building on this foundation, GBB has recently launched an integrated ecosystem solution, combining its advanced technological platforms into a seamless workflow. This innovation enables customers to accelerate drug development from target identification to pre-clinical candidate (PCC) generation in as little as eight months. While GBB has just started collaboration with partners using this approach, early results are promising and highlight its potential to redefine efficiency and speed in drug development, delivering significant value to global partners.
Kingsley Leung, Co-founder and Chairman of GBB, commented: “GBB was founded with a global vision, and our benchmark for success has always been to develop technologies that are globally differentiated. We are confident in our ability to continue building an international footprint, particularly across the U.S., Europe, and Asia-Pacific, where we see significant opportunities for growth. The strong support from our series B investors reflects their trust in our vision and reinforces our commitment to driving innovation that transforms the biopharmaceutical industry worldwide.”
Emmanuel Hui, CEO of the Tiger Jade Pebble Accelerator added: “The biggest challenges for applying AI in the biomedical space are scientific feedback and business model fit. Innovators often don’t know whether or not their AI products work until after extensive animal and human testing, and even then, it is unclear who would be the paying party. GBB’s deliberate strengths in cell line, culture media, and bioprocessing veer away from general AI drug discovery, and allows for immediate feedback, iteration, and client payment.”
About GBB
Great Bay Bio (GBB), headquartered in HKSTP, is a biotech company that drives drug development using cutting-edge technologies such as AI, big data mining, and automation. GBB adheres to the corporate vision of "Global Bioprocessing Made Simpler and More Efficient," and aims to address the challenges of long timelines, high costs, and low success rates in drug development, with a long-term goal of enhancing human life, health, and value.
The core team of GBB comprises experts from medicine, synthetic biology, and artificial intelligence. The company operates a 3,000㎡ R&D laboratory and CMC platform, supporting customers in securing clinical trial approvals from China’s NMPA and the US FDA. GBB has secured nearly 100 patents related to AI-enabled drug development and successfully commercialized multiple AI technology platforms. The company has established long-term partnerships with leading domestic and international enterprises.
GBB has passed the ISO 9001:2015 quality management system certification, been selected for Forbes Asia 100 to Watch 2024 List, and won numerous awards, including "Deloitte Technology Rising Star Company," "EY Entrepreneur Of The Year," "15th Shenzhen Innovation & Entrepreneurship Competition," "Gold Award for Hong Kong Global Innovation," "Excellence in Process Innovation Award," and "Excellence in Technology Adoption Award". The company has also been successfully selected for the Hong Kong Science Park Elite Enterprise Program.
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