Great Bay Bio injected with 2.5 million USD of convertible note
[2020.01.06-Dongguan] Recently, Great Bay Bio signed off convertible note, and the company will be injected with 2.5 million USD by existing shareholders, which including renowned financial institute and family foundation. Such injection of funds fully shows the confidence and support by existing shareholders to Great Bay Bio for its results in 2019. Capital will be injected into projects, to further optimize CMC service platform and product pipeline development of Great Bay Bio. Dr. Chen Liang, the CEO of Great Bay Bio, said: "Progress for Great Bay Bio projects has exceeded expectations with remarkable results. We will continue putting our effort into projects in response to the affirmation and support of Great Bay Bio shareholders."
About Great Bay Bio
Headquartered in Hong Kong, the CMC/CDMO platform of Great Bay Bio was established in 2002, where originally more than 100 million yuan was invested to build a national level CMC platform. The CMC/CDMO platform has independent and integrated technology platforms for drug R&D and large scale preparation. The company has a strong existing track record of developing customized CMC packages for biologic products, some of which are national class I projects of innovative biological new drugs that have already reached NDA stage.
Greta Bay Bio positions itself as a Contract Development and Manufacturing Organization (CDMO), applying AI technology on CMC (Chemistry, Manufacturing, Control) platform for drug development, which targets the headache for recent drug development process including long development timeline and high development cost, and solves such headache with AI+CMC to enhance efficiency and reduce cost. CMC technology platform runs AI analysis model with massive data out from conventional biologics development, combining AI and biotechnology, so to overcome hurdle for biologics development and greatly reduce development timeline and development cost. With such Great Bay Bio could provide much cheaper, efficient and high-quality drug development service for clients, and also brings much economical drug for society.
The platform has been recognized and certificated as "Patent Fostering Enterprise", "Patent Pilot Enterprise", "National High-tech Enterprise", "Dongguan New R&D Institution", "Guangdong Top Ten Foreign-funded R&D Center" and "Guangdong Genetically Pharmaceutical Engineering Research Center". Since 2006, it has undertaken a number of government projects and obtained crucial breakthroughs in key areas of Guangdong and Hong Kong. More than 20 million yuan have been received from the government to support numerous provincial and national projects, such as "National Major New Drug Innovation"
The CMC platform encompasses an area of over 3100 square meter, and has a whole set of advanced biopharmaceutical research and development hardware, with key equipment from world-class brands such as Sartorius, Bio-Rad, GE Healthcare, and Waters. The pilot workshop is designed strictly in accordance with cGMP requirements, with cleanroom standards of C-level and partial A-level.
Document title: Great Bay Bio injected with 2.5 million USD of convertible note
13/01/2020 Dissemination of a Marketing Press Release, transmitted by EQS Group.