PLEASANTON, Calif. & NANJING, China & SHANGHAI– IASO Biotherapeutics (IASO Bio), a clinical-stage biopharmaceutical company focusing on discovering, developing, and manufacturing innovative medicines, today announced the completion of $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 led by CDH Baifu, and followed by CCB International, with strong participation from Everbright Limited, Co-Stone Capital, CNCB Capital and Plaisance Capital. Current shareholder GL Ventures also participated. Since its founding in 2017, IASO Bio has raised more than $178 million.
Proceeds from the financing will be used to accelerate the global development and regulatory submissions of multiple novel 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 Company’s existing portfolio and platforms.
Wen (Maxwell) Wang, M.D., Ph.D., CEO & CMO of IASO Bio, said, “We are obliged to thank all the shareholders for their trust. I am very proud that our track record in transforming innovation into clinically-validated medicines, and our exponential growth, have been well recognized by prestigious domestic 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 both cell therapies and biological drugs. Our first product candidate – fully human BCMA CAR-T (CT103A) – is in the pivotal trial stage and will submit NDA soon. Our second product candidate – the world’s first fully human CD19/CD22 dual targeting CAR-T cell therapy – received clearance of China’s NMPA in July, and the clinical trial has been progressing in an orderly manner. Our third product candidate – the world’s first fully human CD5 targeting CAR-T cell therapy – has finished pre-clinical study and is in pre-IND stage.
“The clinical development of these three innovative products marks the full coverage of our products in plasma cell, B cell, and T cell malignancies. Moreover, we are advancing the clinical development of our core candidate CT103A in frontline therapy, combination regimens, indication expansion, and overseas development. We still have two INDs to file in the second half of this year. The proceeds raised will enable us to advance our innovative pipeline and consolidate our strategic positioning and advantages in immuno-oncology and autoimmune diseases. With an innovative and pioneering spirit and strong execution ability, our team will continue to commit ourselves to bringing life-changing therapies to patients worldwide.”
Mr. Wei Ying, Managing Partner of CDH Baifu, said, “As cell and gene therapies are being developed rapidly, transformative treatments are delivered to patients at an unprecedented pace. In an increasingly competitive environment, IASO Bio has established a diversified pipeline including fully human assets, and multiple blockbuster CAR-T candidates have achieved promising clinical outcomes. Biopharma is one of the key areas of focus for CDH. We are very happy to work with the outstanding team at IASO, and we look forward to exploring partnerships with IASO Bio in the field to accelerate delivery of innovative therapies and contribute to the development of the biopharma industry.”
