In Vivo CAR-T Emerges as Investment Hotspot in Biopharma, Multiple Companies Secure Funding and Advance Toward IPO

　　【Pharmaceutical Network Industry Dynamics】Compared with traditional CAR-T produced in vitro, in vivo CAR-T is reshaping the future landscape of cell therapy with its potentially lower costs and higher accessibility. In recent years, in vivo CAR-T has entered the industry spotlight, sparking a wave of industrial layout. According to reports, since 2025, in vivo CAR-T has become an investment hotspot in the biopharmaceutical field. A large number of pharmaceutical companies, including IVACTA Biotechnology, DeliNova Therapeutics, PersonGen BioTherapeutics, Starna Therapeutics, ImmuneCell Therapeutics, GeneCure Biotechnologies, Rainbow BioSciences, MetaCode Therapeutics, and Kunshi Biotechnology, have successively announced completed financing.
 

Among them, IVACTA Biotechnology has completed an angel round of financing exceeding 100 million RMB. The funds will mainly be used for the iterative optimization of the core technology platform and the clinical translation and development of the lead candidate product in the field of autoimmune diseases. Data shows that IVACTA Biotechnology’s in vivo CAR-T therapy, developed based on a targeted LNP delivery system, focuses on bringing revolutionary treatments to hematological tumors and autoimmune diseases. It can directly complete CAR expression within the patient's T-cells, eliminating the need for traditional autologous CAR-T therapy processes such as cell separation, expansion, and lymphodepletion pretreatment. This will fundamentally address the three core pain points of autologous CAR-T therapy: "high cost, long cycle, and high toxicity." It is expected to significantly shorten the treatment process, achieve the evolution of cell therapy into off-the-shelf drugs, and greatly improve patient accessibility. Currently, its lead candidate product has entered clinical trials and has already yielded positive preliminary human data.
 

DeliNova Therapeutics Completes Nearly 60 Million Yuan in Seed and Angel FinancingDeliNova Therapeutics has completed nearly 60 million yuan in seed and angel financing. The funds will be used to accelerate the evolution of its core technology platform, team building, and the clinical translation and development of its lead candidate product in areas such as hematological tumors and autoimmune diseases. DeliNova Therapeutics is a biotechnology company focused on innovative in vivo CAR-T therapies. The company aims to reshape the treatment landscape for cancer and autoimmune diseases through breakthrough technologies. Investigator-initiated trials (IIT) for hematological tumors are expected to commence soon, with preparations for the IND stage underway. IITs for autoimmune diseases and solid tumors are planned to begin in 2026. In the future, DeliNova Therapeutics will further expand various immune cell-targeting platform technologies and explore application potential in chronic disease fields such as anti-aging.
 

Starna Therapeutics Completes $44 Million Series B Financing; Proceeds to Accelerate Clinical Translation of RNA Innovative Drugs in Infectious Disease Vaccines, Tumor Immunology, and Metabolic Diseases. Reportedly, the company’s in vivo CAR-T STR-P004 has entered the IIT clinical research stage, targeting relapsed/refractory autoimmune diseases and relapsed/refractory CD19-positive B-cell non-Hodgkin lymphoma.
 

ImmuFusion Secures B+ Round Financing. Data shows that, starting from the pain points of solid tumor treatment and clinical benefits, the company has proposed the clinical strategy of "Transforming Solid Tumors into Hematological Tumors" for the first time globally. Based on this, it developed the Peri Cruiser® technology platform, as well as other platforms such as SNR and T-Booster, aiming to enhance the safety of CAR-T products, combat tumor heterogeneity, and improve expansion and tumor infiltration capabilities.
 

In addition, companies such as PersonGen, JiYin Biotech, Hongxin Biotech, Yuanma Therapeutics, and Kunshi Biotech have all secured financing this year. Among them, JiYin Biotech leverages its proprietary core technology platforms, including in vivo CAR-T and iPSC, to develop universal cell therapy drugs for various indications. Currently, the company has established multiple universal and affordable cell therapy pipelines, including in vivo CAR-T, iPSC-derived CAR-iNK, and other therapies. Among these, the in vivo CAR-T cell therapy is the most advanced.
 

The influx of capital and active business strategies are reshaping the future landscape of cell therapy. The maturation and implementation of in vivo CAR-T technology will not only redefine the treatment paradigm for cancer and autoimmune diseases but also has the potential to make what was once an exorbitantly priced therapy more accessible. Despite the challenges currently faced in this field, continuous iteration of technology platforms and the growing accumulation of clinical data are expected to bring critical breakthroughs to in vivo CAR-T within the next few years, driving the cell therapy industry into a new phase of high-quality development.
 

Disclaimer: In no case shall the information or opinions expressed in this article constitute investment advice to any person.