Iaso Biotherapeutics, a Nanjing, China-based clinical-stage biotechnology company, closed a $60m series B financing.
The round was led by GL Ventures.
The company intends to use the funds to expand its product pipeline, promoting the progress of current projects (including regulatory applications and clinical trials in China and the United States), improve the technology of fully-human antibody development platform, grow cooperation with international research and development institutions, and accelerate the construction of commercial facilities.
Founded in March 2017, Iaso Bio is a clinical-stage biotechnology company dedicated to the development of innovative cell therapies for cancer. It is developing over 10 pipeline products, focusing on autologous and universal CAR-T products for hematological tumors. All products are based on fully human sequence. Additional development efforts include unique TCR-like CAR-T cell therapy products for solid tumor indications such as viral infection related gastric cancer and nasopharyngeal carcinoma.
Iaso Bio owns a proprietary phage display library（>2×1011）that supports the demand for fully-human antibodies required for CAR-T and lays the foundation for the development of antibody drug pipelines as well. Its in-house plasmid, lentivirus and CAR-T production technology platforms can meet the requirements of IND submissions and clinical research for multiple products. In September 2019, the company received NMPA approval of a phase Ib/II IND application for CT103A, an anti-BCMA CAR-T co-developed with Innovent Biologics for the treatment of relapsed refractory multiple myeloma (rr/mm). In addition, a number of new drug candidates have entered the pre-clinical stage or are involved in investigator-initiated clinical trials with several of these drugs expected to enter clinical trials in the next two years.