MabSpace and HJB merge to form biotherapeutics company Transcenta

Patheon_Biotech_July
Hong Kong-based MabSpace has merged with bioprocessing specialist HJB to form Transcenta Holding. (Patheon)

Hong Kong-based MabSpace, a biotech company, has merged with bioprocessing specialist HJB to form a new biotherapeutics organization dubbed Transcenta Holding. 

Financial terms of the deal weren’t disclosed. Collectively, MabSpace and HJB have raised $160 million in investment rounds since being formed. MabSpace was founded in 2013 and HJB in 2016.

The two companies are aiming at creating a biotherapeutics organization that boasts fully integrated capabilities in research, development, regulatory and manufacturing of biologics.

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As part of the merger transaction, the founder, chair and CEO of MabSpace, Xueming Qian, Ph.D., has been named CEO of Transcenta, and Jonathan Yining Zhao, Ph.D., who co-founded HJB and was its chief executive, is now the executive chairman of Transcenta.

“With the merger of HJB and MabSpace, we can achieve a critical mass, significantly accelerate the development and commercialization of our innovative pipeline and establish Transcenta as a truly fully integrated biotherapeutics-focused global biotech company,” Qian said in a statement. “This not only enables shorter development timelines, but also provides high-quality biotherapeutics at a much less cost to ensure affordability and sustained profitability.”

The combined company’s footprint includes a R&D facility in Suzhou, product development and manufacturing plant in Hangzhou, and clinical development centers in Shanghai, Beijing and Boston. The company now has 10 innovative molecules in its pipeline.