IASO Biotherapeutics (IASO Bio), a clinical-stage biopharmaceutical company engaged in discovering, developing, and manufacturing innovative cell therapies and antibody products, today announced the completion of nearly US $75 million ($500 million RMB) in Series C1 funding.
| Approaches Commercialization of First Product NANJING and SHANGHAI, China and SAN JOSE, Calif., Jan. 17, 2023 /PRNewswire/ -- IASO Biotherapeutics USA (IASO Bio), a clinical-stage biopharmaceutical company engaged in discovering, developing, and manufacturing innovative cell therapies and antibody products, today announced the completion of nearly US $75 million ($500 million RMB) in Series C1 funding. Eleven investment organizations participated in this investment round, including 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. The funding will support research and development of the company’s pipeline products, and the commercial launch of its core product Equecabtagene Autoleucel.
“Despite the current challenging investment climate, greater competitive pressures, and increasingly strict regulatory policies, IASO Bio has been able to attract investors’ attention. For this we are extremely grateful,” said Dr. Alan Fu, IASO Bio’s CFO. “The successful fund raising is strong proof of IASO Bio’s outstanding research and development in cell therapy and superior execution capabilities. During the past year, our company has achieved numerous milestones and is on the transition to commercialization. The new funding will help accelerate development and commercialization of innovative drugs, enable us to keep working toward our vision of ‘bringing hope to patients in China and around the world.” According to Jianhua Zhao, COO of Shanghai Guoxin Investment, “Cell therapy is curable therapies for patients suffering from hematological tumors. IASO Bio is dedicated to bringing hope to these patients by fulfilling the unmet medical needs. The company has developed a rich and balanced product pipeline and established itself as one of China’s leading cell therapy companies. Despite a late start, IASO Bio has taken the lead and become the first company to receive New Drug Application (NDA) acceptance of a fully in-house developed CAR-T product, Equecabtagene Autoleucel for the treatment of relapsed/refractory multiple myeloma (r/r MM), in China. Its outstanding research and highly effective execution capabilities, and the team’s global vision, have all deeply impressed us. Guoxin will leverage our industry resources to help IASO Bio in its journey to further develop innovative medicines and to benefit patients in China and worldwide.” About IASO Bio IASO Bio is a clinical-stage biopharmaceutical company engaged in the discovery and development of novel cell therapies for oncology and autoimmune diseases. 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, IASO Bio is developing a rich clinical-stage pipeline of multiple autologous and allogeneic CAR-T and biologics product candidates. This pipeline includes a diversified portfolio of over 10 novel products, including IASO’s leading asset, Equecabtagene Autoleucel (CT103A), a fully human BCMA CAR-T injection. Equecabtagene Autoleucel received New Drug Application (NDA) acceptance from China’s National Medical Products Administration (NMPA) for the treatment of relapsed/refractory multiple myeloma (r/r MM) and obtained the U.S. Food and Drug Administration (FDA) Investigational New Drug (IND) approval. The company also received Breakthrough Therapy Designation from the NMPA in February 2021 and Orphan Drug Designation (ODD) from the FDA in February 2022. In addition to multiple myeloma, NMPA has accepted its IND application for the new extended indication of Neuromyelitis Optica Spectrum Disorder (NMOSD). The company’s in-house developed fully human CD19/CD22 dual-targeted CAR-T cell therapy has received two IND clearances for treating relapsed/refractory B-cell non-Hodgkin’s lymphoma (r/r B-NHL) and relapsed/refractory acute B-lymphoblastic leukemia (r/r B-ALL). It is currently in Phase I clinical trial for r/r B-NHL. It was also granted ODD by the FDA in October 2021. IASO Bio aims to be the partner of choice around the world by collaborating with innovative companies in the field. The company has signed licensing or research agreement with oversea cell-therapy companies such as Sana Biotechnology, Cabaletta Bio and Umoja Biopharma with respect to its clinically validated fully human CAR construct or sequences, to actively explore the development of next-generation cell-therapy products. Leveraging its strong management team, innovative product pipeline, and integrated manufacturing and clinical capabilities, IASO aims to deliver transformative, curable, and affordable therapies that fulfill the unmet medical needs of patients in China and worldwide. For more information, please visit www.iasobio.com or www.linkedin.com/company/iasobiotherapeutics.
SOURCE IASO Biotherapeutics |
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