Thousand Oaks Biopharmaceuticals Inc. has closed a $45 million Series A financing round led by a Chinese investment group.
The company, co-headquartered in the Conejo Valley and in Shanghai, will use the money to start construction on a large-scale cell culture manufacturing facility in Haimen, near Shanghai.
The financing was led by New Alliance Capital, in Shanghai. and joined by Addor Capital and Broadhi Capital, both in China, among other investors.
Thousand Oaks Biopharmaceuticals Chairman Shun Luo said he was excited about the opportunity to further enhance capabilities in the chemistry, manufacturing and control process value chain, including cell culture development.
“Our goal is to become a world-class chemistry, manufacturing and control organization enabling our partners to provide affordable and accessible biologics for humanity,” Luo said in a statement.