Chiral Quest Corporation raised $13 million in a Series B financing from China-based venture capitalists, including KPCB China (Kleiner Perkins Caufield & Byers), China Spring Fund, JAIC (Japan Asia Investment Co.), and returning investor Infinity i-China. Chiral Quest offers its chiral expertise to biopharmas, developing manufacturing processes for drug candidates.

In December 2007, Chiral Quest was voted the “Most Promising Company” in the Services sector at the ChinaBio® Investor Forum, held in Shanghai. At the forum, fifteen China biophamas/medtechs presented their stories to investors. The Investor Forum serves to connect early and mid-stage biotech/medtech companies with US and China investors. So far, presenting companies have raised more than $60 million.

With the new funds, Chiral Quest will build a cGMP pilot plant and process R&D center in BioBay, which is part of Suzhou Industrial Park. The 200,000 sq ft pilot facility is scheduled for completion in May 2009. When fully staffed, the site will house 400 R&D and operations personnel. BioBay is participating in the financing of the facility. Chiral, which is headquartered in New Jersey, established an R&D center in Beijing in 2005.

Chiral uses advanced catalytic technologies and green chemistry to develop products for chiral drug intermediates and Active Pharmaceutical Ingredients. The company was founded in 2000 by Dr. Xumu Zhang. To date, Chiral Quest has focused on custom synthesis, using its proprietary asymmetric hydrogenation catalysis technologies. With the new facility, Chiral Quest intends to enter the growing market for chiral intermediates and APIs.

Presently, Chiral Quest employs 80 scientists and support staff.