Focusing on membrane filtration research and development innovation for pharmaceutical processing, Alioth Biotech completed nearly $12M Series A+ financing
On October 10th, Alioth Biotech (Shanghai) Co., Ltd. (hereinafter referred to as "Alioth") announced the completion of a nearly 12 million USD of Series A financing. This round of financing was led by AstraZeneca CICC Healthcare Industry Fund, Old shareholders Legend Capital, Matrix Partners China, and Yishan Capital followed up with investments. The financing funds will help Alioth accelerate the expansion of its membrane research and development team in North America and the extension of its filter product line.
Alioth is a biotechnology company focused on pharmaceutical process technology products, dedicated to providing high-quality separation and purification solutions that meet domestic and international regulatory requirements for pharmaceutical companies, assisting in the process optimization of drug research and development and production, and ensuring the supply chain security of local pharmaceutical companies.
With the vigorous development of China's biopharmaceutical innovation industry, the bioprocess market in the upstream of the industrial chain has shown a rapid growth trend. As one of the core downstream of bioprocess, membrane filtration has a global market size of over 50 billion yuan in 2022, and the domestic market has also exceeded ¥ 4 billion *.
To accelerate the breakthrough of the "choke point" technology of filter membrane materials, Alioth has established R&D centers for filter membrane materials and filter products in Boston, USA and Shanghai, China, and formed a R&D team led by life science scientists and materials scientists. With the application of pharmaceutical customers as the foothold, it aims to achieve innovation and breakthroughs in pharmaceutical filter membrane materials and filter products. Currently, the products under research and on the market include cartridge filters, capsule filters, disc filters, deep filters, hollow fibers, filter hardware systems, and laboratory filtration products.
In order to better ensure the supply chain security and drug production safety of pharmaceutical companies, Alioth has self-built dual production bases located in Shanghai Lingang and Hangzhou, as well as high-standard process development laboratories, verification laboratories, and quality laboratories, and passed ISO9001 audit in 2022.
Jia Qijun, founder and CEO of Alioth, said that "In 2022, Alioth completed its A round of financing. With the help of Legend Capital and Matrix Partners China, we achieved many milestones from "0" to "1" in membrane material research and development, product development, production, quality system, and customer product delivery. In this A+ round of financing, AstraZeneca CICC Healthcare Industry Fund and other investors will help Alioth accelerate its "1" to "10" breakthrough in the next year, including the extension of product strength, the improvement of organizational strength, and the improvement of system. "Creating value for customers" is the first item in Alioth 's corporate values. We will continue to practice it, help pharmaceutical companies with drug research and development and industrialization, and become a trusted partner for pharmaceutical filtration technology."
Chen Bing, managing director of AstraZeneca CICC Healthcare Industry Fund and vice president of AstraZeneca International Business Development Cooperation and Strategic Investment, said, "As a key technology in the upstream of the pharmaceutical industry, filters and filtration membrane materials complement the closed loop of China's self-developed industrial chain. With the rapid development of pharmaceutical research and innovation, we believe that there will be greater market demand in the future. With AstraZeneca's global pharmaceutical research and production experience, we believe that the experienced and highly-executed team of Alioth and high-quality product standards will win a unique market space in China and even in the world."
Mr. Shan Junbao, the Chairman of CICC Capital and the Executive Partner of AstraZeneca CICC Healthcare Industry Fund, said, "We are very pleased to participate in the financing of Alioth. The biomedical industry has a fine division of labor and high degree of industrial cooperation, and it is urgent to overcome the key bottleneck technology. Alioth focuses on the research and development and production of pharmaceutical-related filtration membrane materials. With the strong leadership of the founding team and the assistance of various fund partners, it is expected to accelerate its development and become a leading enterprise in this field, contributing local strength to the upgrading of China's biomedical industry."
※ Data sourced from BCC Research 2022
