Shanghai-based CARsgen Therapeutics Holdings Limited has closed its massive $186 million Series Round. The round was led by private equity firm Loyal Valley Capital and joined by Lilly Asia Ventures, Shiyu Capital, and Summer Capital. Existing investor South China Venture Capital also participated in the round.
CARsgen Therapeutics is a leading Chinese biotechnology company that focuses on the development of chimeric antigen receptor (CAR) T-cell therapeutics. The US entity of CARsgen Therapeutics has received regenerative medicine advanced therapy (RMAT) and orphan drug designations from the U.S. FDA. It has also received PRIority Medicine (PRIME) and orphan drug designations from the European Medicines Agency (EMA) for CT053 fully human CAR-BCMA T-cell therapy. The company’s CT041 is the first CAR-Claudin18.2 T-cell therapy targeting solid tumors entering clinical trials, which makes CARsgen a leading organization is cancer research.
"I am pleased that CARsgen has repeatedly received recognition and support from leading financial institutes and professional investors. This Series C funding will accelerate CARsgen's ongoing clinical trials in China, the United States, and Europe, and will support expanding our commercial manufacturing facilities," said Dr. Zonghai Li, Founder, President, CEO, and CSO of CARsgen.
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