JHL Biotech's new $35 million financing will fund biosimilars

Taiwan biopharma company JHL Biotech say it has closed a Series B financing round of $35 million, led by new investors Milestone Capital and a consortium of Taiwan venture capitalists and individuals.

JHL will use the new funds toward developing its proprietary biosimilar monoclonal antibody (MAb) pipeline and accelerating its filing of Investigational New Drug applications, while supporting the ongoing facility expansion in Taiwan and acquiring additional equipment for its commercial manufacturing facility in Wuhan, China, which is expected to be completed by the end of the year.

"Our investors recognize the hard work and progress we have made towards our mission of bringing affordable, quality medicines to Asia through our cross-strait presence in Taiwan and China," said Racho Jordanov, president and chief executive of JHL Biotech. "We are proud to be backed by these top-tier investors, both original and new, and look forward to continuing our work together to develop, manufacture, and commercialize world-class medicines."