Biologics contract development and manufacturing organisation (CDMO) AsymBio is set to secure 1.2397bn yuan (approximately $184m) from Asymchem Group, Hillhouse Qirui and other investors to support its long-term growth.

The funds will be used for AsymBio’s principal business operations and drive further expansion of its manufacturing capacity.

Asymchem Group will contribute 1.05bn yuan while Hillhouse Qirui will invest 177m yuan.

Following the transaction, Asymchem Group’s shareholding in AsymBio is set to rise to 83.4965%.

Hillhouse Qirui’s investment is described as reflecting long-term confidence in both AsymBio and the wider biologics CDMO sector.

The financing round also brings together other unnamed investors and is said to align with Asymchem Group’s strategic approach of providing "one-stop, end-to-end CDMO" services.

The additional capital comes as AsymBio expands its research and development capabilities, good manufacturing practice (GMP) manufacturing lines, and high-containment facilities.

The company states that the new funding will be directed towards supporting the scaling of client programmes and increasing operational efficiency.

Financial results released by AsymBio indicate that the company generated 470m yuan in revenue during 2025, with revenue for the first quarter of 2026 exceeding 140m yuan.

AsymBio operates as a subsidiary of Asymchem Group and focuses on biopharmaceutical CDMO services, ranging from early-stage and process development to toxicology, clinical, and large-scale commercial manufacturing.

The group points to its experience in the production of antibody-drug conjugates (ADCs) and ongoing expansion into novel drug conjugates (NDCs) and various protein-based therapeutics.