GBB Completes USD$3.8M Convertible Note Financing Led by Alibaba Hong Kong Entrepreneurs Fund
02/23/21, 3:05 PM
Money raised
$3 million
Round Type
seed
Great Bay Bio Holdings Limited (hereinafter referred to as "GBB") today announced it has completed a USD$3.8M Convertible Note Financing. Alibaba Hong Kong Entrepreneurs Fund (hereinafter referred to as "AEF") led the investment round with participation from existing investors including Futec Financial Group (an affiliate of HeungKong Group), Fengde Capital, and other new investors. The investment will mainly be used to support the commercialization of two GBB self-developed platforms, namely Klone4.0™, an AI-enabled cell line development platform, and AlfaMedX®, an AI-enabled cell culture media development platform. The company also plans to use the new funding to develop new AI platforms, as well as bolster its senior management team.
Company Info
Additional Info
Great Bay Bio (GBB) is a Hong Kong-based high-tech enterprise dedicated to applying artificial intelligence and other cutting-edge technologies in CMC bioprocessing, ultimately solving numerous pain-points of biopharmaceutical industry, including high failure rates, long development timeline and high costs. Since the company's establishment, it has accumulated massive bioprocessing development data from its 3100 m2 CMC facility, which bolster advance equipment from world-renowned manufacturers. GBB has also successfully brought a number of biologic products to NDA stage, some of which are classified as national class I innovative drugs. Currently, the company has created an intelligent centralized database, where deep learning is being performed to create a next generation, all-encompassing AI-enabled bioprocessing ecosystem.
GBB has attained the titles of National "High-Tech Enterprise" twice in a row by the National High-Tech Enterprise Certification Management Leading Group Office, "Sprouts List Most Valuable Enterprises for Investment in China for the Year 2020" by the Zero2IPO Group, "Top 50 Innovative Biotechnology Companies in Guangdong-Hong Kong-Macao Greater Bay Area Award 2020" by ZDVC RESEARCH and KPMG China, and ranked Top 15 in the 2021 Merck Greater Bay Area Innovation Bootcamp.
Contact: yt.liu@greatbay-bio.com; kh.li@greatbay-bio.com
SOURCE Great Bay Bio