China-based tumor cellular immunotherapeutics developer Oricell Therapeutics Co., Ltd has announced the closing of a USD 45 million Series B1 investment round. The round was led by premier global industry investors RTW Investments, LP and Qatar Investment Authority, with participation from existing investors, including Qiming Venture Partners and C&D Emerging Industry Equity Investment. The proceeds will be primarily utilized to support the company’s core product clinical development in the US. Previously, the company raised RMB 120 million (USD 17.28 million) in a Series B financing round in July of last year.
Company Overview and Pipeline
Founded in 2015, Oricell Therapeutics has established a robust product pipeline consisting of over 10 drug candidates. These candidates target various cancers, including liver, ovarian, gastric, cervical, and non-small cell lung cancer, as well as multiple myeloma (MM). The company’s GPC-3 targeted chimeric antigen receptor (CAR)-T therapy obtained IND approval in China in September 2022. Additionally, its MM therapy OriCAR-017, which targets GPRC5D, obtained orphan drug designation (ODD) in the US in October.
Key Product Developments
Oricell’s YN051 (ATG101), a bispecific antibody (BsAb) targeting PD-L1 and 4-1BB, has been a focus of a USD 142 million licensing deal with compatriot firm Antengene Corporation Ltd (HKG: 6996). This product has initiated Phase I clinical trials in Australia, the US, and China, marking significant progress in the company’s development pipeline.
Strategic Implications
The Series B1 investment round underscores the confidence of global investors in Oricell Therapeutics’ innovative approach to tumor cellular immunotherapy. The funding will enable the company to accelerate the clinical development of its core products, particularly in the US market, and further expand its presence in the global oncology landscape. This strategic move is expected to enhance Oricell’s ability to bring novel and effective cancer treatments to patients worldwide.-Fineline Info & Tech
