NANJING, China, and SHANGHAI, China, as well as SAN JOSE, California, Jan. 17, 2023 — IASO Biotherapeutics (IASO Bio), a clinical-stage biopharmaceutical business focused on finding, developing, and manufacturing breakthrough cell treatments and antibody products, announced today the closing of roughly USD 75 million in Series C1 investment (USD 500 million RMB). This investment round included 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, among others.
The funds will be used to further research and development of the company’s pipeline products and the commercialization of its flagship product, Equecabtagene Autoleucel.
“Despite the current hard investment environment, increased competitive challenges, and increasingly stringent regulatory laws, IASO Bio has managed to draw the attention of investors. We greatly appreciate this, “said Dr. Alan Fu, CFO of IASO Bio. “The successful capital raising demonstrates IASO Bio’s remarkable cell therapy research and development and great execution skills. Our firm has reached several milestones in the last year and is on the verge of commercialization. The additional capital will assist us in expediting the research and commercialization of novel treatments, allowing us to continue working toward our objective of delivering hope to patients in China and worldwide.”
“Cell therapy is a curative therapy for patients suffering from hematological cancers,” says Jianhua Zhao, COO of Shanghai Guoxin Investment. IASO Bio is committed to providing hope to these people by meeting unmet medical requirements. The firm has positioned itself as one of China’s leading cell therapy companies by developing a diverse product pipeline. Despite a late start, IASO Bio has grabbed the lead and become the first firm in China to get NDA approval for a wholly in-house created CAR-T therapy, Equecabtagene Autoleucel, to treat relapsed/refractory multiple myeloma (r/r MM). Its remarkable research and execution capabilities and the team’s worldwide vision have all significantly impressed us.
More about the company:
IASO Bio is a clinical-stage biopharmaceutical business focused on developing new cell treatments for cancer and autoimmune illnesses. IASO Bio is developing a robust clinical-stage pipeline of autologous and allogeneic CAR-T and biologics product candidates by leveraging its proprietary fully human antibody discovery platform (IMARS), high-throughput chimeric antigen receptor T-cell (CAR-T) drug screening platform, and proprietary manufacturing processes.
By cooperating with innovative firms in the industry, IASO Bio aspires to be the partner of choice worldwide. Concerning its clinically validated fully human CAR construct or sequences, the company has signed licensing or research agreements with overseas cell-therapy companies such as Sana Biotechnology, Cabaletta Bio, and Umoja Biopharma to explore the development of next-generation cell-therapy products actively.
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