Beijing-based gene therapy specialist Immunochina Pharmaceuticals has reportedly raised “hundreds of millions” of renminbi in a Series D+ financing round, following a Series D financing round at the same scale in November 2021. The round was led by ZGC Science City and Beijing Innovation Industry Investment. The proceeds will be used to support a New Drug Application (NDA) for its chimeric antigen receptor (CAR)-T cell therapy IM19.
Investment Objectives
The funds will also be used to improve its commercialization layout, ramp up its research and development of next-generation gene therapy technology platform, expand its gene therapy treatment area, and bolster the construction of GMP-compliant facilities. This strategic investment underscores Immunochina’s commitment to advancing innovative gene therapies and enhancing its market presence.
Clinical Approvals and Future Development
Immunochina currently holds three clinical approvals in China, with its lead candidate IM19 expected to become the first home-grown gene therapy. Phase II trials for IM19 are currently underway, positioning Immunochina at the forefront of gene therapy innovation in the country.-Fineline Info & Tech
