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.