Chiral Quest Corporation Receives Series C Financing of $23 Million

CAMBRIDGE, U.K. - Aug. 8, 2013 - PRLog --  

Chiral Quest Corporation Receives Series C Financing of $23 Million and Acquires a Commercial Scale Manufacturing Facility.

 

Suzhou, Jiangsu, PR China.  August 8th, 2013.

 

Chiral Quest Corp., a private company, has announced the completion of its Series C financing of $23 million from returning investors Kleiner Perkins Caufield & Byers (KPCB) China, Suzhou Industrial Park Venture Capital, the China Spring Fund, Infinity China and new investors Jiangxi VC, Suzhou BioBay and Kaiwu Capital.  As part of this investment the company has acquired Jiang Xi Long Life Biopharmaceutical Co Ltd, providing Chiral Quest with commercial manufacturing facilities in Jiangxi province, China. 

Chiral Quest will use its proprietary technologies to manufacture drug intermediates for pharmaceutical companies at Long Life, whilst maintaining R&D, Quality Assurance, finance and business development in Suzhou, China.  Further investment in the manufacturing site is planned to facilitate the manufacture of Active Pharmaceutical Ingredients (API’s) for the Chinese and overseas markets.

“Completion of the Series C financing and the purchase of the Jiangxi facility have firmly established Chiral Quest as quality supplier of both Chiral and Achiral drug intermediates,” said James Wu., Chief Executive Officer.  “The company already has an existing set of customers for innovator drug intermediates and is rapidly expanding its offering to the generic pharmaceutical market.  This funding will accelerate the introduction of GMP at the Long Life site and provision of complex API’s to the growing generic market”.

 

About Chiral Quest

Chiral Quest is a technology-based company creating solutions for the pharmaceutical industry, assisting Pharmaceutical and Biotechnology companies to develop processes for the manufacture of their candidate drugs.

The company’s proprietary technology platform and products address customer needs through the integration of proprietary chiral catalysts and novel processes in the manufacture of pharmaceutical intermediates and API’s.

Chiral Quest Corp., a private company with headquarters in Suzhou, Jiangsu, China, operates with commercial manufacturing in Jiangxi Province, China and offices in USA, UK and India.  The company currently employs 150 scientists and support staff, and plans during the following year to expand its technical personnel base to over 250 employees.

 

 

For further information contact:

 

Marc Zhu

Chiral Quest (Suzhou) Co. Ltd

9/F, B1, Biobay,

218 Xing Hu Street,

Suzhou Industrial Park, Suzhou,

215123, China

Tel: +86-512-62956066; Fax: +86-512-62956065

Email: mzhu@cqpharm.com