Great Bay Bio Obtained 2.5 million USD of Debt-equity Swap

Created on:2020-01-08 09:35
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January 6th,2020 Press Release

 

 

Great Bay Bio injected with 2.5 million USD of convertible note

 

[2020/1/6, Dongguan] Recently, Great Bay Bio signed loans and equity swap agreements. The company will be injected with 2.5 million USD by existing shareholders (including renowned financial institutes and family foundation), which shows the confidence and support of existing shareholders to Great Bay Bio for its results in 2019. The capital will be used for project development, optimization of CMC service platform and product development pipeline. Dr. Michael Chen, the CEO, said: “This year, Great Bay Bio projects have achieved remarkable results, which exceeded our expectations and gained great support and affirmation from our shareholders. We will continue working for greater progresses.” 

 

About Great Bay Bio

Headquartered in Hong Kong, GBB is a high-tech enterprise dedicated to applying artificial intelligence and other cutting-edge technologies to CMC (Chemistry, Manufacturing, Control) for development of biopharmaceuticals and other blue ocean bio-products (such as cell therapy), ultimately solving numerous pain points of CMC development, including high failure rates, long development timeline and high costs. Since the company’s establishment, it has obtained massive data from conventional biologics development in its 3100 m2 CMC facilities in Dongguan, PRC. With over RMB 300M investment, the facilities 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 the intelligent centralized database, where deep learning is being performed to create next generation AI-enabled CMC platforms. To learn more, please visit http://www.greatbay-bio.com.

 

PR Contact: Miss Liu 

Email: yt.liu@greatbay-bio.com

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