Chi­na biotech bags a $57M round as it races to com­plete R&D, man­u­fac­tur­ing site

A group of mar­quee in­vestors with close ties to Just Bio­ther­a­peu­tics in Seat­tle have come to­geth­er to back a $57 mil­lion round for a Chi­nese joint ven­ture build­ing new lab and man­u­fac­tur­ing op­er­a­tions in Hangzhou, of­fer­ing fresh ev­i­dence of the boom­ing biotech mar­ket in Chi­na.

Just Bio­ther­a­peu­tics was found­ed in Seat­tle by Jim Thomas and oth­er Am­gen vets, seed­ed par­tial­ly by the Bill & Melin­da Gates Foun­da­tion as they set out to de­vel­op low-cost an­ti­bod­ies that could be sold around the world. Now their af­fil­i­ate, Just Chi­na in Hangzhou, is work­ing on fa­cil­i­ties which the com­pa­ny says will em­ploy 100 sci­en­tists and en­gi­neers.

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