CARsgen Therapeutics Raises USD186M in Series C Equity Financing

CARsgen Therapeutics Holdings Limited, a Shangai, China-based biotechnology company focused on innovation and development of chimeric antigen receptor (CAR) T-cell therapeutics, raised a USD186m in Series C equity financing.

The round was led by Loyal Valley Capital and joined by Lilly Asia Ventures, Shiyu Capital, and Summer Capital. Existing investor South China Venture Capital also participated in the round.     

The company intends to use the funds to accelerate its ongoing clinical trials in China, the United States, and Europe, and expand its commercial manufacturing facilities.

Led by Dr. Zonghai Li, Founder, President, CEO, and CSO, CARsgen is advancing chimeric antigen receptor (CAR) T-cell therapeutics.

It was previously reported that CARsgen Therapeutics Corporation, the US entity of CARsgen, received regenerative medicine advanced therapy (RMAT) and orphan drug designations from the U.S. Food and Drug Administration (FDA) and PRIority Medicine (PRIME) and orphan drug designations from the European Medicines Agency (EMA) for CT053 fully human CAR-BCMA T-cell therapy. In addition, the company received investigational new drug (IND) clearance and orphan drug designation from the U.S. FDA for CT041 CAR-Claudin18.2 T-cell therapy. CT041 is the first CAR-Claudin18.2 T-cell therapy targeting solid tumors entering clinical trials. CARsgen Therapeutics Co., Ltd., the China entity of CARsgen, also received IND clearance from the NMPA for four innovative CAR T-cell therapy programs, including CAR-GPC3 T-cell therapy, CAR-Claudin18.2 T-cell therapy, CAR-BCMA T-cell therapy, and CAR-CD19 T-cell therapy.         



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