China-based CARsgen Therapeutics Holdings Ltd (HKG: 2171) has entered into an agreement with an investment fund managed by Zhuhai Hengqin SB Xinchuang Equity Investment Management Enterprise (Limited Partnership) to jointly invest in its subsidiary UCARsgen Biotech Limited. UCARsgen focuses on developing allogeneic CAR-T cell therapies for hematologic malignancies.
Deal Highlights
- Exclusive Rights: UCARsgen gains exclusive rights to CARsgen’s BCMA-targeted allogeneic CAR-T cell therapy for multiple myeloma and plasma cell leukemia, and the CD19/CD20 dual-targeted allogeneic CAR-T cell therapy for B-cell malignancies in mainland China.
- Investment: The Zhuhai SB Xinchuang-managed fund subscribed to UCARsgen’s increased registered capital for RMB 80 million (USD 11 million), securing an 8% equity stake.
- Equity Stake: CARsgen Therapeutics’ ownership in UCARsgen will be diluted from 100% to 92% post-transaction.-Fineline Info & Tech
