China cell therapy developer raises $75m

Eleven local investors took part in this round, including Shanghai Guoxin Investment & Development, Efung Capital, Shanghai Waigaoqiao Free Trade Zone Group, Nanjing Jiangbei New Area State-owned Asset Management, Housen Care Brothers, and Hongcheng Investment.

The new capital will support pipeline R&D efforts as well as the commercial rollout of the company's flagship product.

Iaso previously received a USD 60m Series B round in 2020 led by Hillhouse Capital's GL Ventures. This was followed by a USD 108m Series C led by CDH Investments and featuring CCB International, China Everbright, Co-Stone Asset Management, Xinyin Investment, and Plaisance Capital. GL Ventures re-upped.

Founded in Nanjing in 2017, the company specialises in chimeric antigen receptor T-cell (CAR-T) immunotherapy. CAR-T cells are genetically engineered T cells developed by extracting immune cells from a patient, modifying them, and then returning them to the host to attack tumours.

It has more than 10 pipeline products. Initial focus areas include haematological tumours, which encompass leukaemia and lymphoma, as well as cancers targeting the stomach and throat.

Iaso is the first Chinese company to new drug application (NDA) approval for a CAR-T product fully developed in-house. The product, known as Equecabtagene Autoleucel, targets relapsed multiple myeloma in China. It has also received investigational new drug (IND) approval in the US.

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• Topics
• Greater China
• Expansion
• Healthcare
• China
• Pharmaceuticals
• CDH Investments Management
• Hillhouse Capital Management
• Growth capital