Saturday, 23 September 2023

Hong Kong-based startup Great Bay Bio secures $15M funding

15 September 2022 | News

The funds raised will mainly be used to accelerate the development of AI-empowered bioprocessing platforms

Image credit: prnewswire

Image credit: prnewswire

Great Bay Bio (GBB), Hong Kong-based startup, has announced the completion of its $15 million Pre-series B funding led by Tiger Jade Capital. The funding was oversubscribed and upsized with participation from one of the world's top life science MNCs, AEF Greater Bay Area Fund (managed by Gobi Partners GBA), and Vectr Ventures, as well as existing institutional investors.

The funds raised will mainly be used to accelerate the development of artificial intelligence (AI) empowered bioprocessing platforms, the construction of production facilities; as well as the establishment of a global commercial development team. Looking ahead, GBB will strive to develop and provide an "end-to-end" AI-enabled bioprocessing platform to satisfy the R&D and commercial demands of global customers.

Its two proprietary AI+CMC (chemistry, manufacturing, and controls) technology platforms, AlfaCell and AlfaMedX, have been successfully commercialized and used by multiple biopharma companies. Empowered by the AlfaCell platform, the uncertainties of productivity and stability are eliminated in the cell line development process, thus significantly reducing the workload and improving the efficiency of upstream bioprocess development.

The AlfaMedX platform enables GBB to quickly establish a culture medium library of more than one thousand formulas and provide rapid customized culture medium development services to customers. Currently, AlfaCell, AlfaMedX and other AI solutions have been used to improve the CMC process of various biological drugs including fusion proteins, monoclonal antibodies, bispecific antibody drugs, etc. 

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