MaKe | MaHui Member CytoBridge Bio Closes Nearly RMB 200 Million Series B Round; Source Code Capital Led Pre-B Round

On June 14, 2024, CytoBridge (Shenzhen) Biotechnology Co., Ltd. (hereinafter referred to as "CytoBridge") officially announced the completion of its Series B financing round. The round raised nearly RMB 200 million, led by CBC Group with participation from Hongsheng Capital. Existing shareholders Waterwood Capital, Tengye Capital, Changfa Capital, and Shenzhen Angel Fund of Funds also continued to increase their stakes. The proceeds will accelerate the commercialization of new-quality production equipment. With an eye toward the industry's long-term development goals and end-state requirements, CytoBridge is committed to helping customers enhance the commercial competitiveness of their products, aiming to accelerate a critical inflection point in industrialization. Based in China and serving the world, we provide exceptional solutions to clients globally.

Dr. Yuanfang Shang, founder and CEO of CytoBridge, stated: "We are grateful for the trust and support of all our investors. CytoBridge will continue to uphold its innovation-driven development philosophy, accelerate the construction of new-quality productive forces in CGT intelligent manufacturing, and truly advance toward our mission of 'making sure no disease goes untreated because it is unaffordable.'"

Yuhao Zhang of Source Code Capital, the lead investor in the Pre-B round, noted that the CytoBridge team is a young group with exceptional innovative spirit and execution capability. In just two to three years, they have taken products from 0 to 1 to 10, delivering complete and reliable one-stop equipment solutions for CGT industry clients. Source Code Capital will continue to support and invest in technological innovation, with a focus on AI + robotics applications in life sciences, to empower industrial adoption and upgrading.

1

"Source Technology Innovation Driving Change,

The Industry at an Inflection Point"

Since its founding in March 2020, CytoBridge has, in just four years, completed the full commercial闭环 from technological invention to scaled application of high-end synthetic biology equipment, becoming the only domestic and one of the top three global CGT new-quality productive force builders with fully independent intellectual property and supply chain. The company is dedicated to mastering the initiative and pricing power in industry development through source technology innovation and localization of CGT upstream key manufacturing technologies and complete sets of core equipment, achieving "one-click preparation + one-click release" for cell and gene therapies, and pushing the cost of cancer and chronic disease cell gene therapy from the millions down to the tens of thousands, benefiting far more patients.

Over the past decade, the "cancer-curing efficacy" of cell and gene therapies has been fully validated, yet constrained by production capacity and cost, the industry's scale remains unable to meet enormous market demand. In 2023, fewer than 10,000 people worldwide received immune cell therapy; industry transformation is imperative. CytoBridge is committed to reducing the production cost of cell and gene therapies to below RMB 100,000 within the next five years, dramatically improving accessibility, and helping achieve a breakthrough of one million doses by 2030, truly meeting a market demand of hundreds of billions. This goal is not merely a vision but an inevitable trend in industry development.

2

"China's CGT Growth Is Remarkable,

Independent R&D Is Imperative"

Since 2015, the number of clinical trials for CGT therapies in China has grown rapidly. Currently, 40% of global CGT innovative drug pipelines are in China, having increased 388% over the past five years, with the potential to surpass the United States in 2024 as the country with the most innovative pipelines. As one of the world's largest pharmaceutical markets, China's demand for new-quality productive forces with independent intellectual property and core technologies grows more urgent by the day. CytoBridge's source technology innovation not only precisely matches rapidly growing domestic market demand but also successfully enters international markets, providing the CGT industry with a digitally-enabled, self-controllable Chinese-made process equipment platform.

CytoBridge's birth and growth is a journey inextricably linked to a Tsinghua PhD and the national major bio-instrumentation program. A decade of honing one sword — CytoBridge has remained steadfast in source innovation, with 270+ patents collectively building out a complete and advanced product matrix that meets customers' full-category, full-cycle process needs. Multiple key metrics have broken through industry ceilings, enabling large-scale, low-cost, high-efficiency production of cell and gene therapies. Multiple star products achieved industry-leading market share in their first year of launch, setting a domestic record for largest-scale equipment delivery, quickly winning market and customer favor, and establishing CytoBridge's market competitiveness and brand influence.

3

"The China Solution at Mass Production Scale,

33 Pipelines in Application"

CytoBridge has established strategic partnerships with multiple industry-leading customers, completing coverage of various downstream CGT therapies including CAR-T, NK, TILs, TCR-T, and gene therapy. To date, CytoBridge has supported process filing or changes for 33 leading pipelines, setting a domestic record for largest-scale process collaboration. Of particular note, a CytoBridge partner has submitted a marketing application, potentially making CytoBridge the first domestic CGT new-quality productive force provider to serve large-scale commercial cell drug production.

In terms of end-product applications, CytoBridge actively collaborates with medical institutions, research institutes, and industry partners, fully leveraging customers' advanced preparation process research outcomes alongside CytoBridge's technical strengths in cell processing tools and automation equipment. Through deep integration and innovation of process & tools, we improve production quality and substantially reduce costs, combining with the CytoBridge Super Cell Factory to achieve seamless connection from R&D to commercial mass production.