News

Great Bay Bio injected with 2.5 million USD of convertible note

DONGGUAN, CHINA -
EQS Newswire -14 January 2020 - Recently, Great Bay Bio signed off
convertible note, and the company will be injected with 2.5 million USD by
existing shareholders, which including renowned financial institute and family
foundation. Such injection of funds fully shows the confidence and support by
existing shareholders to Great Bay Bio for its results in 2019. Capital will be
injected into projects, to further optimize CMC service platform and product
pipeline development of Great Bay Bio. Dr. Chen Liang, the CEO of Great Bay
Bio, said: "Progress for Great Bay Bio projects has exceeded  expectations with remarkable results. We will
continue putting our effort into projects in response to the affirmation and
support of Great Bay Bio shareholders."

About Great Bay Bio

Headquartered
in Hong Kong, the CMC/CDMO platform of Great Bay Bio was established in 2002,
where originally more than 100 million yuan was invested to build a national
level CMC platform. The CMC/CDMO platform has independent and integrated
technology platforms for drug R&D and large scale preparation. The company
has a strong existing track record of developing customized CMC packages for
biologic products, some of which are national class I projects of innovative
biological new drugs that have already reached NDA stage.

Greta Bay Bio
positions itself as a Contract Development and Manufacturing Organization
(CDMO), applying AI technology on CMC (Chemistry, Manufacturing, Control)
platform for drug development, which targets the headache for recent drug
development process including long development timeline and high development
cost, and solves such headache with AI+CMC to enhance efficiency and reduce
cost. CMC technology platform runs AI analysis model with massive data out from
conventional biologics development, combining AI and biotechnology, so to
overcome hurdle for biologics development and greatly reduce development
timeline and development cost. With such Great Bay Bio could provide much
cheaper, efficient and high-quality drug development service for clients, and
also brings much economical drug for society.

The platform
has been recognized and certificated as "Patent Fostering
Enterprise", "Patent Pilot Enterprise", "National High-tech
Enterprise", "Dongguan New R&D Institution", "Guangdong
Top Ten Foreign-funded R&D Center" and "Guangdong Genetically
Pharmaceutical Engineering Research Center". Since 2006, it has undertaken
a number of government projects and obtained crucial breakthroughs in key areas
of Guangdong and Hong Kong. More than 20 million yuan have been received from
the government to support numerous provincial and national projects, such as
"National Major New Drug Innovation"

The
CMC platform encompasses an area of over 3100 square meter, and has a whole set
of advanced biopharmaceutical research and development hardware, with key
equipment from world-class brands such as Sartorius, Bio-Rad, GE Healthcare,
and Waters. The pilot workshop is designed strictly in accordance with cGMP
requirements, with cleanroom standards of C-level and partial A-level.

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