Oricell Therapeutics, a Shanghai-based pharmaceutical company committed to advancing tumor cellular immunotherapeutics, raised $45M in Series B1 funding.
The round as led by RTW Investments, and Qatar Investment Authority, with participation from existing investors Qiming Venture Partners and C&D Emerging Industry Equity Investment.
The company intends to use the funds to support its core product clinical development in the U.S.
Led by Chairman and CEO Helen Yang, Oricell Therapeutics is a biopharmaceutical company committed to developing tumor cellular immunotherapeutics through its technology platforms. The company has applied for over 100 invention patents (including 6 PCT), with 10 already granted. Its mission is to develop affordable drugs for unmet clinical needs worldwide. It has built several proprietary technology platforms based on tumor cell immunotherapy, including OriAb and Ori CAR.
Over the past year, the company launched its red-chip restructuring in the fourth quarter of last year in parallel with series B round of financing. Ori-C101 received IND clearance from NMPA in September 2022. With this new funding, Oricell Therapeutics is now positioned to expand its products to the U.S., specifically OriCAR-017, a GPRC5D CAR-T therapeutic that treats relapsed and refractory multiple myeloma, which is a product currently on the stage of IND enabling both in the US and China.
FinSMEs
28/02/2023