BEIJING--(BUSINESS WIRE)--AutekBio, Inc., SUMA Ventures and Beijing E-Town Harvest International Capital Management Corporation, a venture capital group from Beijing Municipal Government announced a joint investment of more than US$100m to develop a new contract manufacturing organization (CMO) for biopharmaceutical industry in China. This joint effort led by AutekBio represents strong interests from both private investment sector and government to establish world quality capability and capacity in biopharmaceutical manufacturing in China.
The new joint venture will build up a world class R&D and manufacturing center in southern Beijing to service international biologic developments, with combined volumes of bioreactors up to 20,000 liters in multiple production lines (trains).
“I am extremely pleased with this joint investment. This will allow us to build one of the largest biologic CMOs in Asia,” said Julius Li, the CEO of AutekBio, Inc. “The newly established facility and company will provide, for the first time, manufacturing services in China fully conforming to the US FDA / EU EMEA cGMP standards, for the global biopharmaceutical needs.”
According to Li, the facility will provide to the international biotech arena high quality yet cost efficient solutions in producing protein based medicines. The firm will also benefit from financial, regulatory and other supports from the Chinese government for the biotech industry.
About AutekBio, Inc.
AutekBio, Inc. is a biotech firm headquartered in the Bay Area, US. It uses its proprietary, state-of-the-art technologies to service the international bio-pharmaceutical market, with its wholly owned operation division in Beijing to conduct contract research and contract manufacturing business. It is the first of its kind in China and uniquely positioned. AutekBio’s core technologies include engineering cell line development, process development and large scale high yield biologic production using mammalian cell culture platforms.
About Suma Ventures
SUMA VENTURES is a cross border China/US venture capital firm committed to the high-tech and life science industry. Due to our entrepreneurial roots, Suma often plays an active role in the founding and value creation of our portfolio companies. Some of the companies we have invested in include a number of platform companies in the areas of contract research organization (CRO), contract manufacturing organizations (CMO), antibody and small molecule anti-cancer drug development technology companies. Suma’s strengths and investment focus is to bridge the best resources of Silicon Valley and China to build leading world class life science companies in China. This is being done by bringing leading US technology and entrepreneurs to China, supporting them with strategically aligned government and professional capital resources, along with guidance from the most successful Chinese entrepreneurs to mentor and build early and growth stage life science opportunities in China, which are laying the foundation for China to become the #1 life science market in the world.