Biotechnology Firm General Biol Raises CNY 100 Mn in Pre-IPO Investment

Healthcare Author: Siren Chen Jun 29, 2022 09:54 PM (GMT+8)

In the context of centralized drug procurement, biomedical enterprises should become industrialized to reduce costs.

MRNA raw material

General Biol, a one-stop biomedical service provider and raw material (nucleic acid-protein-antibody) producer, received CNY 100 million (USD 14.94 million) pre-IPO investment. This round of financing was led by Sinowisdom (Chinese: 华睿投资), followed by a government fund.

Founded in 2014, General Biol focuses on providing biotechnology products and R&D outsourcing services. Its business covers basic life science research, preclinical biopharmaceutical discovery, vaccine, nucleic acid drug and gene therapy research and development, and raw material for in vitro diagnostic product development.

The company has completed six mutually enabling platforms, including gene synthesis, industrial primers, protein engineering, antibody engineering, inspection and detection, and target engineering. Yong Jingui, chairman of General Biol, stated that the company's customers covered most of the listed IVD and pharmaceutical companies in China and 20 overseas clients.

In addition, the demand for medicinal nucleic acids in the market surged, which makes the nucleic acids CDMO develop rapidly. General Biol has also arranged small nucleic acid CMC and CDMO businesses. The noteworthy progress is that the company has signed a cooperation agreement with Cytiva (Chinese: 思拓凡) in December 2021 on the construction of the Oligo FlexFactory. 

Its competitors in the CDMO area include OBiO (Chinese: 和元生物, 688238), Asymchem (Chinese: 凯莱英生物), GenScript Probio(Chinese: 蓬勃生物) and Porton(Chinese: 博腾生物).