Porton Advanced Solutions announces $80m valuation after fundraising

Published: 23-Aug-2022

The round of financing was led by China Merchants Groups’ healthcare PE fund Merchant Health

China-based provider of gene and cell therapy (GCT) Porton Advanced Solutions has closed its Series B financing round with over US$80M.

A number of renowned venture and private equity firms participated in the financing, including Fosun Health Capital, Gortune Investment and SDICTK.

Speaking about the announcement, Porton Advanced Chief Executive Officer Dr Whang Yangzhou said: "We are very pleased and grateful for the recognition and trust by China Merchants Health and all the other new current and capital partners.

We will continue to improve and optimise our internal quality and programme management systems, enhance our ability to operate at overseas and domestic markets, and continue to provide best possible CDMO services

"With a talented and passionate team, proprietary technologies, state of the art production lines and equipment, we will work hand in hand with our sponsors and partners to reach more milestones in the GCT field."

Focusing on gene and cell therapy CDMO services, Porton Advanced has established an integrated platform that provides a spectrum of services covering plasmids, cell and gene therapy, oncolytic virus, nucleic acid therapy and microbial vectors used for gene therapy."

The company's current operational footprint includes a 40,000 sqft RD and GMP facility already in operation for over two years that has delivered a number of plasmids, viruses and cell batches.

Like this story? Subscribe to Manufacturing Chemist magazine for the latest news, updates and expert-written articles from the global pharmaceutical and biopharma sectors. For more information click here.

Porton Advanced is aiming to have a 160,000 sqft commercial production facility in operation by the end of 2022, with over 200,000 sqft of PD, AD and GMP manufacturing facilities dedicated to cell therapy.

A spokesperson for China Merchants Health said: "The cell and gene therapy holds great promises for patients and long-term commercial success. Porton Advanced is a leading cell and gene therapy CDMO service provider with a very experienced, internationally orientated management and technical team."

You may also like