Photo: Getty Images
Cover Photo: Getty Images

The round was said to be oversubscribed with participation from AEF Greater Bay Area Fund, Vectr Ventures and other existing institutional investors

Hong Kong-headquartered Great Bay Bio (GBB) has closed its pre-Series B round at US$15 million, with Tiger Jade Capital, a private equity fund focused on healthcare investments, as the lead investor. 

Several other investors also participated in the oversubscribed round, including AEF Alibaba-backed Greater Bay Area Fund, Vectr Ventures and an unnamed Fortune 500 life science MNC.

GBB aims to make the development of new medicines simpler and quicker by using artificial intelligence and other cutting-edge technologies while reducing the risks of the process by half. 

Read more: How AI Can Help To Revolutionise Drug R&D 

It will use the new funds to accelerate the development of AI-powered bioprocessing platforms, the construction of production facilities and the establishment of a global commercial development team.

“With the support from Tiger Jade Capital and one of the world’s leading MNCs, GBB can quickly integrate into the global biopharmaceutical ecosystem, and accelerate the realisation of our vision of ‘Global Bioprocessing Made Simpler and More Efficient’,” says Kingsley Leung, chairman and co-founder of GBB in a statement. “In turn, GBB will help customers accelerate developmental timelines, reduce the cost and risk of biomanufacturing, [and] ultimately, allow affordable biological drugs to patients in need.”

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