Joinn Biologics, a US-based offshoot of China-headquartered preclinical services provider Joinn Laboratories, has closed a $60m series A round that included real estate developer China Union Holdings, PEdaily reported today.
Private equity firm Huagai Capital led the round, which also featured Suzhou Xiangtang Venture Capital and Chaosheng Capital, while China Union invested through Hong Kong Hualian Holdings, a chemicals, textiles and petrochemicals-focused subsidiary.
Formed in early 2018, Joinn Biologics offers contract development and production services for pharmaceutical developers, covering areas like candidate evaluation, the development of cell line and manufacturing processes, and upstream and downstream manufacturing.
The funding will support construction of a large-scale production facility in the Chinese city of Beijing that is intended to strengthen cross-border collaboration between the company’s activities in China and US.
Joinn Laboratories offers a range of preclinical services for drug developers, such as efficacy screening, toxicity studies, preclinical safety assessment and the supply of laboratory animals in addition to clinical testing services.
