On August 26, 2022 Shanghai Bao Pharmaceuticals reported that it closed a Series B round with over $100 million to support development of its recombinant protein and antibody drug candidates, including commercialization (Press release, Shanghai Bao Pharmaceutical, AUG 26, 2022, View Source [SID1234618714]). Bao Pharma will also advance its pre-clinical projects into clinical trials. The company is building a 75,000 square meter facility in Laodian Industrial Park, located in Shanghai’s Baoshin District, which will house its R&D operations and manufacturing facilities for recombinant protein drugs and injected drugs. The round was led by Oriental Fortune Capital and included Haitong Innovation and Sun Rock Capital.

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