HONG KONG, Dec. 31, 2021 /PRNewswire/ -- Great Bay Bio (GBB), an AI-enabled biotechnology company, announces the participation of FutureX Capital in its Series A round fundraising.
Great Bay Bio finished A round financing of near USD 10 million on December 1, 2021. The investors include Promixa Ventures, GL Ventures, Alibaba Entrepreneurs Fund, Alon Capital and FutureX Capital.
"Thanks for the compelling support of FutureX Capital. We are looking forward to working with FutureX to enrich Great Bay Bio's entrepreneurial ecosystem and accelerate the pace of the application of cutting-edge technologies such as artificial intelligence into drug development platforms," said Kingsley Leung, Co-founder and Chairman of GBB.
Zhang Hanqin, Partner of FutureX Capital, comments: "FutureX Capital continues to focus on the innovative application of AI technology in the field of scientific research. Based on its in-depth understanding of the pain points of the industry and rich experience in biologic drug research and development, Great Bay Bio (GBB) has successfully applied AI technology to the whole process of cell line culture and screening, significantly shortening the R&D time, reducing the cost of R&D trial and error, and boosting the promising biopharmaceutical industry at a high speed, ultimately benefiting every ordinary person. Together with the founding team and our shareholders, we look forward to exploring the possibilities of AI-enabled pharmaceutical R&D and its application in a wider range of areas. "
About Great Bay Bio
Great Bay Bio (GBB) is a Hong Kong-based high-tech enterprise dedicated to applying artificial intelligence and other cutting-edge technologies in CMC bioprocessing, ultimately solving numerous pain-points of biopharmaceutical industry, including high failure rates, long development timeline and high costs. Since the company's establishment, it has accumulated massive bioprocessing development data from its 3100 m2 CMC facility, which bolster advance equipment from world-renowned manufacturers. GBB has also successfully brought a number of biologic products to NDA stage, some of which are classified as national class I innovative drugs. Currently, the company has created an intelligent centralized database, where deep learning is being performed to create a next generation, all-encompassing AI-enabled bioprocessing ecosystem.
GBB has attained the titles of National "High-Tech Enterprise" twice in a row by the National High-Tech Enterprise Certification Management Leading Group Office, "Sprouts List Most Valuable Enterprises for Investment in China for the Year 2020" by the Zero2IPO Group, "Top 50 Innovative Biotechnology Companies in Guangdong-Hong Kong-Macao Greater Bay Area Award 2020" by ZDVC RESEARCH and KPMG China, and ranked Top 15 in the 2021 Merck Greater Bay Area Innovation Bootcamp.
FutureX Capital is a mid- to late-stage private equity investment platform that focuses on exploring the growth opportunities of the smart era and high-tech industries. It is committed to exploring the investment layout of the smart era and researching the transformation of the investment industry. The main investment areas include artificial intelligence, cloud computing, Internet of Things, chip semiconductors, 5G, computers, ICT+, etc.