Milestone Biotechnologies Co., Ltd. (“Milestone Biotech”) recently has announced the completion of a Series B2 funding of over a hundred million CNY.
Milestone Biotech is a company focused on domestic cell research and development and separation services, committed to becoming a one-stop provider of upstream cells, supporting reagents, and services in the field of cell therapy. Through years of research and development and operation, the company has become a leader in the primary cell industry. With independent research and development, it now has over 30 product lines and nearly 6000 types of cells.
According to Milestone Biotech, it has independently developed primary cell related products and technologies to create the TPCS (The Primary Cell Solution) independent research and development brand. It has established three major technology platforms, which are cell separation service platform, drug development platform, and cell culture platform, to provide one-stop products and technical services for cell gene therapy (CGT).
According to IMARC Group, the global cell therapy market was worth USD 11.5 billion in 2022 and is expected to reach USD 32.1 billion by 2028, with a compound annual growth rate of 17.5%. This growth is driven by the increase in dog and cat adoptions, increasing demand for pet related products, and the scientific and efficient concept of pet care.
In addition to Milestone Biotech, many companies are competing in the cell therapy market, such as Tiankeya (天科雅), CorreGene (可瑞生物), UTC Therapeutics (优替济生), Immunotech (华夏英泰) in China, AlloSource, Kolon TissueGene, NuVasive, Vericel in the United States, Mesoblast in Australia, Holostem Terapie Avanzate S.r.l. in Italy, Anterogen in South Korea, JCR
Jinbao Zhang, founder and CEO of Milestone Biotech, stated: “Milestone Biotech has always been committed to becoming the leading enterprise in serving Chinese biopharmaceutical enterprises. After the completion of this round of financing, we will not only consolidate our existing core business, but also accelerate the commercialization of supporting reagent consumables all over the world, as well as the landing of new business formats such as CRO business. “
This round of financing for Milestone Biotechnologies was exclusively invested by CAS FTU (中科海创), with follow-on investments from Addor Captial (毅达资本), GL Ventures (高瓴创投), Titan Scientific (泰坦科技), Tongyu Fund (同毓基金). WinX Capital (凯乘资本) acted as the financial advisor. This round of funds will mainly be used to accelerate the development of a series of primary cell and supporting reagent consumables products, and further strengthen the commercial expansion capabilities of enterprises.