Abiochem Biotechnology Raises Nearly RMB300m of C Round Financing

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Abiochem Biotechnology recently completed a C round of financing of nearly RMB300m, led by Temasek, as reported by Iyiou on April 4. It will use the raised pproceeds to develop the company's synthetic biology products and to build a new manufacturing facility in Chongqing.

Established in 2015, Abiochem Biotech is a bio-intelligent manufacturing enterprise with advanced synthetic biology technology, mainly engaged in the research and development of synthetic biology methods, and committed to applying them to large-scale production. At present, it has established a biological resources engineering database platform. McKinsey International Institute released a report in May 2020, pointing out that 60% of industrial products in the future can be manufactured through biotechnology, and predicted that bio-intelligent manufacturing based on the technological revolution of synthetic biology will bring USD2tr to USD4tr indirect economic benefits to the world every year from 2030 to 2040. The accumulated financing amount of Abiochem Biotech is nearly RMB700m, and it is in the listing counseling period and plans to apply for the listing on the STAR market.

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