China based CMAB Biopharma Inc. (CMAB), a full-service contract development and manufacturing organization (CDMO) providing process development and manufacturing services for biologic products, has recently raised $34 million in Series B financing.

The round is being led by CD Capital, and jointly participated by C-Bridge Capital, Cormorant, Qianhai FoF Fund and Tigermed. The funding proceeds will be used to upgrade CMAB’s 2,000L Good Manufacturing Practices (GMP) facilities, expand manufacturing capacity and will also enable the company to provide 50L/200L/500L/1,000L/2,000L bioreactor scale GMP manufacturing services.

Located in Suzhou’s BioBAY Park, CMAB’s new manufacturing facility will provide services for the development of manufacturing process, analytical method, formulation, and the manufacture of biologic drug substances and drug products. The initial facility will be able to generate pre-clinical and early-stage clinical (Phase I/II) products, using manufacturing that follows global GMP standards, including those of the China Food & Drug Administration, US Food & Drug Administration (21 CFR), European Medicines Agency (Eudralex), WHO, and harmonized PIC/S and ICH standards.

In the company’s recent grand opening, CMAB also announced it has entered into collaboration agreements with several leading biopharma companies, which speaks to the quality of CMAB’s services and to the expertise of its management team.