GDMC secures $28.1m capital from Series A funding

Celadon Partners led the founding round.

SG-based biotech firm Genetic Design and Manufacturing Corporation (GDMC) secured $28.1m (US$21m) from a Series A funding round led by Celadon Partners.

WI Harper Group, SEEDS Capital, and NSG Ventures also participated in the funding round.

GDMC said it plans to use the funds to promote novel technology and process efficiency improvements to drive greater manufacturing cost reductions for partners aiming to advance medicines through clinical trials and towards commercialisation.

The biotech firm is currently constructing a 155,000 sq ft pre-clinical, clinical, and commercial facility supporting Cell, Gene, and Nucleic Acid Therapies (CGNT).

GDMC has already signed their first clients and is taking reservations for the clinical and commercial facilities expected to open in a staggered format from 2024 to 2027.

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