OriCell Therapeutics Raises Over $120M in Series B Financing

OriCell Therapeutics (Shanghai) Co., Ltd. , a Shangai, China-based developer of novel immunotherapies to satisfy globally unmet clinical needs, closed a Series B financing totaling over US$120m.

The round was jointly led by Qiming Venture Partners and Quan Capital with participation from Chinese investment funds, as well as existing shareholder C&D Emerging Capital.

The company intends to use the funds for the development of its cell therapy pipeline, and the proprietary discovery platform, as well as for the construction of a manufacturing plant for both clinical and commercial purposes.

Led by Helen Yang, Chairman and CEO, OriCell has constructed 4 versatile and patented technology platforms: Ori®Ab antibody discovery technology platform, Ori®CAR CAR-T technology platform featuring high memory and high vitality, Ori®TIL, a stable and controllable cell culture platform for efficient expansion, and Ori®UCAR, a universal, convenient, and efficient CAR-T technology platform.

Its Investigational New Drug (IND) submission for Ori-C101, the company’s first internally developed CAR-T product targeting GPC3 for the treatment of advanced liver cancer, was accepted by the National Medical Products Administration (NMPA) of China in June of this year. OriCAR-017, China’s first GPRC5D CAR-T product developed by OriCell for the treatment of relapsed and refractory multiple myeloma (RRMM) confirmed the product’s potential with clinical results from the investigator-initiated phase I trial (POLARIS) presented in an oral presentation at the 2022 ASCO and EHA2022 annual meetings, respectively. Presently, the company is accelerating its registration and clinical development in China and the United States.

An exclusive global license agreement for Ori®Bs-001 (ATG101) was reached with Antengene in 2019. Ori®Bs-001 (ATG101) is a  PD-L/4-1BB bispecific antibody and has received the implied approval from the Center for Drug Evaluation (CDE) in China in March this year after receiving IND from the U.S. Food and Drug Administration (FDA) and Clinical Trials Notification (CTN) from the Australian Therapeutic Goods Administration (TGA).