AsymBio secures US$184M financing to scale biologics CDMO capabilities

CHINA— Biologics contract development and manufacturing organisation (CDMO) AsymBio is set to receive 1.2397bn yuan (US$184 million) from its parent company, Asymchem Group, Hillhouse Qirui, and other investors to support business expansion and strengthen its manufacturing capabilities.

The financing will primarily fund AsymBio’s operations and help the company expand its production capacity as it scales its biopharmaceutical CDMO services.

Asymchem Group will provide the largest share of the funding, investing 1.05bn yuan (US$ 155.8 million), with Hillhouse Qirui contributing 177m yuan (US$ 26.2 million). Other unnamed investors will provide the remaining capital.

Following the transaction, Asymchem Group’s stake in AsymBio will increase to 83.4965%.

Hillhouse Qirui said its investment reflects long-term confidence in AsymBio and the broader biologics CDMO market.

Expanding biologics manufacturing capabilities

AsymBio plans to use the additional capital to expand its research and development capabilities, GMP manufacturing lines and high-containment facilities.

The company also aims to improve operational efficiency and increase its ability to support client programmes as they move through different stages of development and manufacturing.

The investment forms part of Asymchem Group’s strategy to provide integrated, end-to-end CDMO services.

Through this approach, the group seeks to support pharmaceutical and biotechnology companies from early development through clinical manufacturing and commercial-scale production.

AsymBio has been expanding its capabilities across the biologics development and manufacturing value chain.

 Its services include early-stage development, process development, toxicology support, clinical manufacturing and large-scale commercial production.

The company also has experience manufacturing antibody-drug conjugates (ADCs), a class of targeted medicines that combines antibodies with drug payloads.

In addition, AsymBio is expanding its capabilities in novel drug conjugates (NDCs) and other protein-based therapeutics.

Revenue growth supports expansion

The funding comes as AsymBio reports continued growth in its business. According to financial results released by the company, AsymBio generated 470m yuan (US$ 69.7 million) in revenue in 2025.

The company’s revenue also exceeded 140m yuan (US$ 20.8 million) in the first quarter of 2026, indicating continued demand for its biologics development and manufacturing services.

AsymBio operates as a subsidiary of Asymchem Group and focuses exclusively on biopharmaceutical CDMO services.

 Its capabilities cover multiple stages of the drug development process, allowing clients to access development, testing and manufacturing services through a single provider.

The company’s investment in additional R&D infrastructure, GMP production capacity and high-containment facilities is intended to support the growing scale and complexity of its clients’ biologics programmes.