Founded in 2019, Medium Bank is a leading supplier of comprehensive solutions dedicated to the research and development of high-end Chemical-Defined (CD) medium products and Medium Optimization and Development (MOD) of customized medium formulations.
Shanghai Medium Bank (Chinese: 上海迈邦生物) recently announced the completion of a CNY 100 million (USD 16 million) Series B financing round.
This round of funding was led by Neovision Capital, with follow-on participation from existing shareholder Rui Ying Capital. The proceeds will be utilized to further invest in innovation and R&D processes, as well as in GMP system upgrade and production construction.
Since its establishment, Medium Bank has been recognized and validated by hundreds of biopharmaceutical companies in the industry thanks to its rich innovative R&D capabilities. To date, Medium Bank’s products have been applied in the clinical and commercial production phases in various fields such as monoclonal antibodies, fusion proteins, animal and human vaccines, IVD, and regenerative medicine.
Medium Bank has established six cell culture media platforms covering CHO cells, hybridoma/myeloma cells, HEK293 cells, insect cells, virus vaccine cells and T cells/stem cells. Wang Yantao, Chairman and CEO of Medium Bank, said that the company was devoted to the development of high-performance domestic CD medium formulations, and would be able to provide overall upstream process solutions for biopharmaceutical companies.
In 2022, Medium Bank obtained the ISO13485 quality system certification with zero defeat. Dozens of biopharmaceutical companies subsequently completed the on-site audit of the company’s production base. This series of milestones marks that Medium Bank has entered a new stage of development.
Qin Yangwen, managing partner at Neovision Capital, said that as one of the core raw materials for the upstream production of innovative biotech, the cell culture medium plays a fundamental role in guaranteeing the safety and efficacy of drugs. He expects that Medium Bank will leverage this round of funding to deeply tap customer needs, continue to optimize the platforms, and enable domestic biotechnology companies to move toward commercialization and internationalization.
Medium Bank’s main competitors include OPM Biotech(Chinese:奥浦迈生物), Duoning Biotech (Chinese: 多宁生物), Jianshun Biotech(Chinese:建顺生物), Zhenge Biotech (Chinese: 臻格生物), Quacell Biotech(Chinese:康晟生物).