CMAB raises $34M for manufacturing upgrade

CMAB Biopharma Inc. (Suzhou, China) raised $34 million on April 2 in a series B round led by new investor CD Capital. Also participating were C-Bridge Capital, Cormorant, Qianhai FoF Fund and Tigermed.

CMAB, a contract development and manufacturing organization, said it will upgrade its biologics production facilities and expand manufacturing capacity. The facilities will meet global GMP standards and will initially focus on manufacturing preclinical and early stage clinical supplies for companies in China and worldwide...