December 30, 2020
Shanghai Duoning Biotechnology Co., Ltd. (hereinafter referred to as: Duoning Biotechnology), a platform supplier in the field of serum-free culture medium, disposable products and bioreactor in the domestic biomedical industry, announced today that it has completed several hundred million yuan of round B financing. This round of financing is jointly completed by Sequoia Capital China , Yaoming biological industry fund, LYFE Capital and old shareholder Qingchi capital. The funds raised in this round will be used to continue to strengthen the integration of duoning biopharmaceutical industry platform.
Since the completion of a + round of financing in April 2019, Duoning Biotechnology has been vigorously expanding its business and extending its business in the upstream and downstream supply fields of biopharmaceuticals. In September of the same year, Duoning Biotechnology acquired Guangzhou Qizhi bio, and officially expanded into the field of bioreactor from the original platform of localization of serum-free cell culture medium and new disposable consumables. In June 2020, Duoning Biotechnology acquired Shanghai Lianghei Technology , making it a one-time product business unit of Duoning Biotechnology. In November of the same year, the localization platform of biological consumables built by Duoning Biotechnology added new tiles, and it announced the merger and acquisition of Jinke filter. This series of commercial activities marked the rapid evolution of Duoning Biotechnology to a one-stop supply platform. Looking forward to the future, duoning bio will continue to increase the innovation and R &D of core products, constantly enrich its product line, and strive to become a comprehensive service provider providing complete solutions for China's domestic biomedical field.
Mr. Wang Meng, chairman and CEO of Duoning Biotechnology, said: "after the completion of this round of financing, Duoning Biotechnology will invest more resources in the research and development of new products and the upgrading of existing core products, continue to enhance the company's local independent R & D strength and product competitiveness, so as to increase its own industrial integration ability, and further accelerate its application in biopharmaceutical industry through independent R & D and merger and acquisition of industrial chain Complete layout of upstream and downstream. The mission of Duoning Biotechnology is to continuously reduce the production cost of domestic antibody drugs, realize import substitution, and enhance the competitiveness of local enterprises, so as to help the long-term healthy development of China's biomedical industry. "
Mr. Shen Nanpeng, global executive partner of Sequoia Capital, said: "the booming wave of global biopharmaceutical market has driven the rapid development of upstream and downstream supplies of consumables and equipment. As a leading domestic brand of biopharmaceutical consumables,Duoning Biotechnology is based on strategic industrial integration and independent research and development. Rich experience in operation integration will help Duoning Biotechnology continue to consolidate its industry influence and accelerate the process of biopharmaceutical localization. "
Dr. Li Bin, founder of Qingchi capital, said: "since Qingchi capital invested in Duoning Biotechnology in 2018, it is gratifying to witness the established strategy of" building a one-stop localization supply platform for antibody production upstream in China "by the management of Duoning. With solid execution, Qingchi capital has achieved one milestone after another on the road of development. We are happy to see that Duoning Biotechnology is favored by many excellent investment institutions. We welcome round B investors to join duoning. It is believed that with the blessing of more front-line industries and professional capital, Duoning Biotechnology will surely become more powerful. "