HSINCHU, Taiwan, February 26, 2020 — With a globally-focused enthusiasm and aspiration to build sustainable and reputable CDMO facilities for the China Biologics Market, JHL Biotech has made a strategic decision benefitting all of its patients, shareholders, employees and the company to restructure JHL Biologics and spinoff its China Facility to have a stronger presence in China, with new and additional investment opportunities. With the separation, Chime Biologics (a BVI Company, which is the corporate office of XiKang Wuhan) will have one of the largest and most thorough CDMO capabilities in China Biologics Market. Chime will continue to provide services to clients and business partners from early to late-stage commercial development and manufacturing.
JHL Biotech will continue to have very close partnership with Chime as JHL’s strong platform experience with Cell Line Development all the way to supporting clients in Regulatory Submissions, enhances synergy to both companies desire to provide high-quality and fully dedicated services to their respective clients.
As JHL Biotech continues to enforce the vision of providing high-quality biologics at affordable prices for all patients in need, the company will move forward with development of its own biologics pipeline at full speed, including both biosimilars and new drugs. JHL Biotech remains well-positioned to capture growing market opportunities and implement its strategic plan for sustainable growth. This plan will create long-term value for the shareholders, bolster strong financial position, and capitalize on the market’s continued optimism in its business.
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About JHL Biotech
JHL Biotech, Inc. is a biopharmaceutical startup founded by a group of industry veterans with deep experience in pharmaceutical development and operations. JHL is backed by premier financial firms, including Kleiner Perkins Caufield & Byers, Sequoia Capital, Biomark Capital, Milestone Capital, Fidelity, VMS Investment Group, and the China Development Industrial Bank. JHL Biotech’s mission is to provide the world with low-cost medicines of exceptional quality. JHL is focused on continuing to provide the highest-quality CDMO services for our esteemed clients and also research and development of new protein-based therapies and biosimilars. JHL has two world-class facilities built in accordance with United States, European Union, and ICH cGMP regulations and standards and can produce biological products to be marketed globally. For more information, please visit www.jhlbiotech.com.