Chinese cell therapy biotech developing TIL therapies raises $60M Series B

Grit Biotech­nol­o­gy said Fri­day that it closed a Se­ries B, rais­ing more than $60 mil­lion from sev­er­al Chi­nese in­vestors.

The fi­nanc­ing came from sev­er­al new in­vestors, in­clud­ing Qian­hai Ark, Lian­do Group, Yuan­he Cap­i­tal and HeFangT­ian Ven­ture Part­ner­ship, in ad­di­tion to pre­vi­ous in­vestors: Sher­pa Health­care Part­ners, Decheng Cap­i­tal and Ma­trix Part­ners Chi­na.

Shang­hai-based Grit said the fund­ing would go to­ward de­vel­op­ing its pipeline, in­clud­ing ad­vanc­ing its tu­mor-in­fil­trat­ing lym­pho­cyte (TIL) can­di­dates and sup­port­ing a planned piv­otal Phase II in Chi­na for its lead can­di­date, GT101. That ther­a­py is cur­rent­ly be­ing test­ed in melanoma and cer­vi­cal and lung can­cer.

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