A full-scale CRDMO combines a CRO and CDMO business model, resulting in a fully integrated suite of end-to-end solutions to meet future market demand.
Yaohabio (Chinese：耀海生物) recently announced that it had completed the first phase of a Series B+ round of financing worth more than CNY 100 million (USD 13.95 million). This funding round was led by CICC Qide Innovation Biopharmaceutical Equity Investment Fund (Chinese：中金启德基金), with the participation from Unifortune (Chinese：乾道基金) and other investors.
The funds raised in this round will be used primarily for the construction and operation of the Beijing R&D Center, the upgrade of the CRO technology platform, the expansion of the talent team, and the promotion of international operations to accelerate the construction of an integrated microbial expression system CRDMO service platform meeting global standards.
Founded in 2010, Yaohabio is a medical outsourcing service provider focusing on microbial expression systems. The company has built a one-stop CRDMO service platform covering recombinant proteins/peptides, plasmids, nucleic acid drugs, nanoantibodies, and new recombinant vaccines.
CRDMO has more powerful and refined early-stage R&D capabilities that can seamlessly link post-process research and production and provide process-wide professional support for integrating new drug development, thus better empowering innovation and entrepreneurs.
In the past, Europe and the United States held a significant portion of the global CRDMO market share due to their first-mover advantage. But in recent years, the domestic pharmaceutical industry has developed rapidly, the atmosphere for innovation has become increasingly intense, and many local CRDMO enterprises have risen rapidly.
CRDMO also includes WuXi AppTec (Chinese：药明康德), WuXi Biologics (Chinese: 药明生物) and HitGen (Chinese: 成都先导).