Hong Kong-based Great Bay Bio (GBB) completed a series A financing round of approximately $10 million. The investors include Promixa Ventures, GL Ventures, Alibaba Entrepreneurs Fund, Alon Capital, and FutureX Capital.
“We look 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,” says Kingsley Leung, co-founder, and chairman of GBB.
GBB focuses on applying artificial intelligence and other advanced technologies in chemical, manufacturing, and controls (CMC) bioprocessing. The goal, according to Leung, is to solve numerous pain-points in the biopharmaceutical industry, including high failure rates, long development timelines, and high costs. Since the company’s establishment, notes Leung, it has accumulated substantial amounts of bioprocessing development data from its 3,100 m2 facility.
GBB has also brought a number of biologic products to the NDA stage, some of which are classified as National Class I innovative drugs, according to company officials, who add that the GBB has created an intelligent centralized database, where deep learning is being performed to create a next generation, AI-enabled bioprocessing ecosystem.