PLEASANTON, California & NANJING, China & SHANGHAI – (COMMERCIAL THREAD) – IASO Biotherapeutics (IASO Bio), a clinical-stage biopharmaceutical company focused on the discovery, development and manufacture of innovative drugs, today announced the completion of a $ 108 million Series C to advance the global development of novel cell therapies and biologics for oncology and autoimmune diseases. The Series C round was conducted by CDH Baifu, and followed by CCB International, with a strong participation of Everbright Limited, Co-Stone Capital, CNCB Capital and Plaisance Capital. Current shareholder GL Ventures also participated. Since its inception in 2017, IASO Bio has raised more than $ 178 million.
Proceeds from the funding will be used to accelerate global development and regulatory submissions for several new cell therapies. The company will also use the funds to develop a broader pipeline of universal allogeneic cell therapies and cell products for the treatment of solid tumors, expanding global strategic partnerships on core assets to further diversify the existing portfolio and platforms of the society.
Wen (Maxwell) Wang, MD, Ph.D., CEO and CMO of IASO Bio, said: “We are obliged to thank all the shareholders for their confidence. I am very proud that our experience in transforming innovation into clinically validated medicines, and our exponential growth, has been well recognized by prestigious national and international investors. We are committed to developing transformative drugs, and after four years of rapid and steady growth, our business is now well driven by cell therapies and biologics. Our first product candidate – Fully Human BCMA CAR-T (CT103A) – is in the pivotal trial stage and will soon submit an NDA. Our second product candidate – the world’s first all-human CD19 / CD22 dual-targeting CAR-T cell therapy – received approval from the Chinese NMPA in July, and the clinical trial is progressing in an orderly fashion. Our third product candidate – the world’s first fully human CD5 targeting CAR-T cell therapy – has completed the preclinical study and is in the pre-IND stage.
“The clinical development of these three innovative products marks the complete coverage of our products in malignant tumors of plasma cells, B cells and T cells. In addition, we are advancing the clinical development of our key candidate CT103A in the treatment of first line, combined treatment regimens, expansion of indications and development abroad. We still have two INDs to file in the second half of this year. The revenues raised will allow us to advance our innovation pipeline and consolidate our strategic positioning and our advantages in immuno-oncology and autoimmune diseases. With an innovative and pioneering spirit and strong ability to execute, our team will continue to be committed to bringing life-changing therapies to patients around the world. ”
Mr. Wei Ying, Managing Partner of CDH Baifu, said, “As cell and gene therapies develop rapidly, transformative treatments are being delivered to patients at an unprecedented rate. In an increasingly competitive environment, IASO Bio has established a diverse pipeline comprising all-human assets, and many successful CAR-T candidates have achieved promising clinical results. Biopharma is one of CDH’s main areas of intervention. We are very excited to work with the exceptional team of IASO and look forward to exploring partnerships with IASO Bio in the field to accelerate the delivery of innovative therapies and contribute to the development of the biopharmaceutical industry.
About CDH Baifu
CDH Baifu is a diversified asset management platform under CDH Investments, with a focus on special themed equity investment funds. It is characterized by an investment strategy to capture new trends, develop in emerging areas and adopt a counter-cyclical approach. It invests in the fields of semiconductors, biotechnology, artificial intelligence, military-civil integration and high-end equipment. He strives to work with entrepreneurs and startups to create long-term value.
About IASO Bio
IASO Bio is a clinical-stage biopharmaceutical company committed to the discovery and development of novel cell therapies for oncology and autoimmune diseases. Leveraging its proprietary Fully Human Antibody Discovery Platform (IMARS), high throughput CAR-T drug priority platform, and proprietary manufacturing processes, IASO Bio is developing a rich clinical-stage pipeline of several autologous and allogeneic CAR-T and biological product candidates. This includes a diverse portfolio of 8 new pipeline products, as well as IASO’s leading asset, CT103A, an innovative anti-BCMA CAR-T cell therapy under pivotal study for relapsed multiple myeloma / refractory (R / R) (RRMM), which was obtained the revolutionary therapeutic designation by the National Medicines Administration of China (NMPA) in February 2021. In addition. Fully Human CD19 / CD22 Dual Target Chimeric Antigen Receptor (CAR) -T Therapy, Developed in-House by the Company, Received Two IND Clearances from NMPA for Treatment of Recurrent / Refractory CD19 Non-Hodgkin B Cells / CD22-positive. lymphoma (r / r B-NHL) and relapsed / refractory acute lymphoblastic B-cell leukemia (r / r B-ALL) in July 2021. For more information on IASO Bio, please visit www.iasobio.com.