IASO BIO Snags $60M in Series B, Led by Hillhouse Venture Capital

According to PEdaily.cn, Nanjing IASO Biotherapeutics ("IASO BIO") has announced the completion of a $60 million Series B financing, led by Hillhouse Venture Capital, the venture capital fund under the management of Hillhouse Capital Group. 

Proceeds of this round will be mainly used to enrich the product pipeline, promote the current project (including application in both China and America, and clinical trials), improve the all-human antibody development platform, expand the cooperation with international research and development institutions, and build commercial facilities.

Founded in 2017, IASO BIO aims to become a leading biopharmaceutical company focused on the discovery, development, and commercialization of cell therapies in the field of oncology. The company is dedicated to curing cancer using engineered autologous/allogeneic T cell therapies designed to enhance the immune system's ability to recognize and eradicate cancer cells. Currently, IASO BIO is developing over 10 high-potential pharmaceutical products, targeting hematological tumors, solid tumors, and virus-associated tumors.

Products of IASO BIO are TCR-like CAR-T cell therapies for indications of gastric cancer and nasopharyngeal cancer caused by virus infections, which are also fully human antibodies. Holding a number of proprietary intellectual property rights, the all-human phage library not only supports the requirement of fully human antibodies for CAR-T, but also lays the foundation for the development of antibody drugs. 

IASO BIO's own large-scale manufacturing platform can establish and validate processes for plasmid, lentivirus and CAR-T cell productions, supporting multiple IND enabling studies, IND filing, and early to pivotal clinical trials.

Hillhouse Venture Capital is a venture capital fund of Hillhouse Capital Group that invests in early-stage companies, focusing on biomedical and medical devices.

Founded in 2005 and based in Beijing, China, Hillhouse Capital Group invests globally, with a particular focus on Asia. Their team members are sector experts in consumer, Internet, media, and healthcare.