Cytovia and TF Capital, a leading China-based biotech institutional investor, have formed CytoLynx Therapeutics.
- Cytovia eligible for up to $400 million in licensing milestones for Greater China rights
- Coordinated US and China clinical development of GPC3-targeted therapies for hepatocellular carcinoma
AVENTURA, Fla. and SHANGHAI, China, Sept. 13, 2021 (GLOBE NEWSWIRE) -- Cytovia Therapeutics, Inc. (“Cytovia”), a biopharmaceutical company developing allogeneic “off-the-shelf” gene-edited iNK and CAR (Chimeric Antigen Receptor)-iNK cells derived from induced pluripotent stem cells (iPSCs) and NK cell engager multifunctional antibodies, and CytoLynx Therapeutics (“CytoLynx), its newly-formed China-focused joint venture, announced today that they have closed $45 million from institutional investors to finance the IND enabling and initial clinical development of their pipeline.
Cytovia and TF Capital, a leading China-based biotech institutional investor, have formed CytoLynx Therapeutics. TF Capital along with YF Capital, BioTrack Capital, Ruihua Capital, and TG Sino-Dragon Fund (backed by TigerMed) have invested $45 million to support the new venture, as well as Cytovia research and development projects. The collaboration agreements between CytoLynx and Cytovia will advance multiple NK therapeutics through product development in the Greater China region. Additionally, CytoLynx obtained a technology license from Cytovia based on its core technologies to allow in-China development of additional NK therapeutics for global commercialization. Cytovia is eligible to receive up to $400 million in upfront development and commercial milestones under the agreement.
Dr. Daniel Teper, Chairman and CEO of Cytovia commented: “We are excited to accelerate the global development of our lead GPC3 programs for the treatment of hepatocellular carcinoma, a condition with significant unmet medical needs and a very large patient population in Asia, particularly in China, and establish a path to provide these therapies to the Chinese market. CytoLynx will also serve as a development and commercialization platform for additional Cytovia products, as well as in-licensed immuno-oncology assets.”
Dr. Wei Cheng, Managing Director at TF Capital added: “We are delighted to partner with Cytovia Therapeutics to bring novel therapeutic options to patients in China. Cytovia has a seasoned entrepreneurial leadership team and best-in-class NK technologies, including iPSC-derived NK cells, gene editing, and NK Engager multifunctional antibodies. We believe that by combining the strengths of the two parties, we can make CytoLynx and Cytovia global leaders in NK cancer therapeutics and benefit patients worldwide.”
Dr. Albert Huang, Executive Director at Yunfeng Capital noted: “As the lead investor in this series of financing, Yunfeng Capital believes that Cytovia and CytoLynx are well positioned to become leading players in iPSC NK cell therapy.”
About Cytovia Therapeutics
Cytovia Therapeutics aims to accelerate patient access to transformational cell therapies and immunotherapies, addressing several of the most challenging unmet medical needs in cancer. Cytovia focuses on Natural Killer (NK) cell biology and applies precision engineering to induced pluripotent stem cells (iPSCs) to develop safe, effective, and broadly available off-the-shelf Natural Killer cell therapy as a first line of defense against cancer. Cytovia’s proprietary multi-specific antibody platform has been customized to engage and activate NK Cells at the tumor site. Both platforms offer optionality to clinicians and can also be used synergistically. Cytovia’s R&D laboratories in Natick, MA and GMP cell manufacturing facility in Puerto Rico are augmented by scientific partnerships with Cellectis, CytoImmune, the Hebrew University of Jerusalem, INSERM, the New York Stem Cell Foundation, STC Biologics, and the University of California San Francisco (UCSF).
www.cytoviatx.com
About TF Capital
TF Capital focuses on investment in the life sciences industry, primarily investing in early stage companies with high potential. Through strategic investments in various key areas and right partnerships, TF Capital hopes to capture opportunities in the rapidly expanding Chinese life sciences market. Our investment team has vast experience and resources in industry to assist our portfolio companies.
www.tfcapital.net
Investor contact:
Anna Baran-Djokovic
anna@cytoviatx.com
+1 (305) 615 9162
Media Contact:
Sophie Badré
sophie.badre@cytoviatx.com
+1 (929) 317 1565
