Porton Advanced Solutions has raised $80m in a Series B funding round to expand its end-to-end gene and cell therapy (GCT) contract development and manufacturing organisation (CDMO) platforms.
Merchant Health, a healthcare private equity (PE) fund of China Merchants Groups, led the financing round together with its sister fund China Merchants Capital and China Merchants Securities Investments.
Additionally, various venture and private equity firms, including Gortune Investment, SDICTK and Fosun Health Capital, took part in the funding round.
The round also saw participation from current shareholders of the company Porton Pharma Solutions, CS Capital, HM Capital, Ruilian Investment and Momentum Venture.
Porton Advanced plans to utilise the funds to advance its business into various markets by investing in key manufacturing infrastructures as well as in commercial operations across the world.
These expansions could aid the company in becoming a worldwide end-to-end GCT CDMO platform to help bring new therapies to patients.
The company exclusively focuses on GCT CDMO services and created a combined platform offering various services including cell therapy, gene therapy, oncolytic virus, plasmids, nucleic acid therapy and microbial vectors utilised for gene therapy (MVGTs).
By the end of this year or earlier next year, Porton will have a PD, AD and GMP manufacturing facility spread over more than 200,000ft² for GCT.
Porton Advanced CEO Dr Wang Yangzhou said: “In the coming months, we will continue to improve and optimise our internal quality and programme management systems, enhance our ability to operate in overseas and domestic markets and continue to provide the best possible CDMO services to our customers with our open, innovative and reliable platforms so that best medicine would reach the public sooner.”
In April, Porton Advanced signed a long-term strategic collaboration with Guizhou Sinorda Biomedicine for cell and gene therapy research and development (R&D) and platform development.
Cell & Gene Therapy coverage on Pharmaceutical Technology is supported by Cytiva.
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