GDMC in Singapore to Expand Global Genetic Medicines Operations
Singapore-based Genetic Design and Manufacturing Corporation (GDMC) has revealed a Series A funding round of $21 million. The capital will be deployed to expedite advancements in novel technology and process efficiency, aiming to achieve substantial manufacturing cost reductions. The focus is on supporting partners in progressing medicines through clinical trials and towards commercialization.
Celadon Partners, an Asia-based private equity firm specializing in investments in industries poised for transformative technology adoption and new business models, spearheads a funding round for GDMC. Notable investors in the round include WI Harper Group, a prominent cross-border venture capital firm, and SEEDS Capital, the investment arm of Enterprise Singapore, as well as global biotech venture capital firms like NSG Ventures.
The intricate process of manufacturing genetic medicine requires a specialized and highly knowledgeable team for successful fruition. We express gratitude to our investors for supporting our vision of democratizing advanced genetic medicine manufacturing, leveling the playing field for innovative companies and leaders in advanced therapies. With our recent funding, we aim to foster stronger collaborations with partners in the US and APAC region, working collaboratively to enhance healthcare and patient treatment," stated Michael Koeris, CEO and Co-Founder of GDMC.
Headquartered in Singapore, GDMC has commenced the construction of a 155,000 sq ft facility for pre-clinical, clinical, and commercial purposes, supporting Cell, Gene, and Nucleic Acid Therapies (CGNT). GDMC's partnership approach focuses on enhancing genetic medicine design and development through synthetic biology, emphasizing three market-relevant pillars: success-based partnerships with sponsors, technical innovation, and significantly lower cost of goods. The company has introduced a new partnership approach emphasizing upfront genetic medicine development through design and synthetic biology, addressing the market's demands for success-based collaboration with sponsors, technical innovation, and substantially reduced production costs.