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Just entering the second half of 2025, cell and gene therapy (CGT) has ignited a "fire" in the capital market. On July 23, Dispatch Bio, a startup company, announced that it had secured $216 million in Series A financing, setting a new record for the largest single early-stage financing in the global CGT field this year.According to incomplete statistics, as of July 2025, 11 CGT companies in China have officially announced the completion of financing, with a total disclosed amount exceeding 700 million RMB.NEWISH: Tens of Millions of YuanB1 RoundFinancingOn July 24, 2025, NEWISH, a Chinese company specializing in the research and development of therapeutic nucleic acid drugs for cancer treatment, announced the completion of a multi-million-yuan Series B1 financing round, jointly invested by Broadcomm Capital, XTC Innovation Investment, and Excellence Meijia. The proceeds from this round will primarily be used to advance the clinical Phase I and II studies of its core pipeline products: the therapeutic vaccine NWRD08 for cervical precancerous lesions and the nucleic acid drug NWRD06 for liver cancer treatment.'%20fill='%23FFFFFF'%3E%3Crect%20x='249'%20y='126'%20width='1'%20height='1'%3E%3C/rect%3E%3C/g%3E%3C/g%3E%3C/svg%3E)
NEWISH is a biotech innovation company focused on the research and development of gene therapies and other fields. It specializes in "China-original" nucleic acid drugs with complete independent intellectual property rights, pursuing First-in-class innovations. The company leverages the jointly developed STARi (Super Targeted Activation of T-cell Immune Response) nucleic acid drug development platform to research and develop next-generation therapeutic cancer vaccines.Currently, the company is mainly focused on underserved clinical niches such as precancerous cervical lesions and postoperative recurrence of liver cancer. Several new drugs have entered the clinical development stage, including the therapeutic DNA gene drug for liver cancer, NWRD06, which received IND approval in May 2023, and the HPV therapeutic DNA gene drug, NWRD08, which received IND approval in October 2023. Clinical trial results indicate that NWRD08 demonstrates significant advantages in both safety and efficacy. Administered via injection into the deltoid muscle of the upper arm, this drug not only avoids the trauma and potential risks associated with traditional surgery but also reduces the severity of lesions within a relatively short period, promoting the clearance of the E6E7 gene or the virus. With the ongoing progress of subsequent clinical trials, these two therapeutic vaccines are expected to bring hope to a wide range of patients with precancerous cervical lesions and hepatocellular carcinoma.NEWISH: Tens of Millions of Yuan in Series B FinancingSichuan Zhishan Weixin Biotechnology Co., Ltd. (hereinafter referred to as "Zhishan Weixin") has completed a B-round financing of tens of millions of yuan, with investments from Chengdu SBI and Guosheng Capital.Sichuan Zhishan Weixin Co., Ltd. was established in June 2018. It is a biotechnology company focused on the development of original rAAV gene therapy drugs. The company holds several globally leading patents and technologies in the design of efficient gene expression cassettes and vector production optimization. Its R&D pipeline covers multiple clinical indications, including blood, central nervous system, and metabolic system.ZS801, the first self-developed in vivo gene therapy product for Hemophilia B, obtained clinical approval in August 2022. It is China's first original target gene therapy product for Hemophilia B to be approved for clinical trials. Currently, this product is undergoing clinical research on safety and efficacy at the Institute of Hematology & Blood Diseases Hospital, Chinese Academy of Medical Sciences. In this study, the first subject who received treatment in March 2022 showed a significant and sustained increase in plasma FIX activity levels, with good safety follow-up, demonstrating important clinical significance.VivaVision Bio: RMB 140 million D2+ round of financingOn July 21, VivaVision Bio announced the successful completion of over RMB 100 million in D2+ round financing. This round of financing was led by Wenzhou Ouhai Xiangtou Yicun Equity Investment Partnership (Limited Partnership), with new investors such as Yueke Financial and Renze Zhenhe following up. Existing shareholders Longpan Investment and Yicun Capital continued to increase their support.As a biotechnology company that has always been deeply engaged in the ophthalmology field, VivaVision Bio's fundraising will mainly be used to accelerate the advancement of late-stage clinical trials for several core pipelines, support the research and development of preclinical pipelines, and expand and upgrade the technological innovation platform to continuously enhance R&D efficiency and capabilities.The company's core pipeline has currently concentrated in the later stages of clinical development, with recent good news frequently reported: VVN461LD received positive preliminary written feedback from the FDA, requiring only a single pivotal Phase III clinical trial for post-operative ocular inflammation to file for NDA; VVN461HD has been included in the "Breakthrough Therapy List" by China’s National Medical Products Administration (NMPA), with the potential for expedited review and approval; VVN001, as a new generation of domestically produced eye drops for dry eye syndrome, is steadily advancing in its Phase III clinical trials; the first patient has been successfully enrolled in the Phase II clinical trial for VVN1901 in treating neurotrophic keratitis, officially entering the pivotal clinical stage.In addition, VivaVision Biosciences has also laid out gene therapy and biologics R&D targeting retinal diseases, planning to achieve multi-disease coverage through an innovative technology platform and establish a "full-course management" system for ophthalmic drug development.TopGen Therapeutics: $40 Million Series B FinancingOn July 15, Drimmunity/Tcelltech (Tuo Xin Tian Cheng) announced the completion of a nearly US$40 million (approximately RMB 287 million) Series B financing round. This round was led by SDIC Capital, with participation from a well-known insurance capital firm and Hotung Venture Capital, and strong support from institutions such as Xingye Guoxin Asset Management and Fuzhou Mindu Talent Fund. Chenglin Capital served as the exclusive financial advisor for this financing round. The proceeds will primarily be used to support the China and U.S. clinical development of Tuo Xin Tian Cheng's core pipeline TX-103, the research and development of other pipeline projects, global team expansion, acceleration of international strategic layout, and advancement of BD cooperation.Tuo Xintiancheng, co-founded by pioneering tumor immunologist Professor Chen Lieping and immunocyte therapy expert Professor Huang Gangxiong, focuses on developing innovative technologies and drugs for tumor immunotherapy and immunocyte treatment. Its core pipeline, TX-103, is the world's first B7-H3 CAR-T cell therapy to enter registrational clinical trials and conduct international clinical studies, targeting solid tumors such as recurrent glioblastoma (rGBM).In addition, TopGen is simultaneously developing the next generation of universal/in vivo cell therapy and T-cell engager platforms, striving to build a world-leading solid tumor immunotherapy platform company.Enkai Saiyao: Hundreds of Millions of RMBA+++ Round Financing7On the 9th, Enka Therapeutics announced the completion of a nearly 100-million-yuan A+++ round of financing, with participation from Pudong Venture Capital and Starlight Bio-Innovation. The funds raised in this round will be used to advance clinical trials of core products and the development of new product pipelines, accelerating the clinical translation of NK cell drugs.EnCayce BioPharma, established by a core technical team led by Professor Tian Zhigang from the University of Science and Technology of China, focuses on the research, development, and production of innovative cell-based drug technologies based on NK cells. It is dedicated to providing patients with more effective and safer precision immunotherapy solutions. In March 2020, with the strong support of the Shanghai Municipal Government, Zhangjiang Administrative Committee, and Zhangjiang Group, EnCayce BioPharma settled in the Zhangjiang Cell Industrial Park. By 2024, two of its NK cell products have successively received clinical trial (IND) approval from the U.S. FDA and China's CDE.R&D Pipeline
Shize Bio: Tens of Millions of RMB
On July 8, StemCell BioMed (Suzhou) Co., Ltd. completed a financing of tens of millions of yuan.Shize Bio was founded in February 2021, focusing on the field of stem cell therapy. Its product pipeline includes: 1) XS411 Injection: an allogeneic "off-the-shelf" iPSC-derived dopaminergic neural progenitor cell injection. In April 2025, its Phase I and Phase II new drug registration clinical trial applications were fully approved by the National Medical Products Administration (NMPA) without any requests for additional information, for the treatment of early-onset Parkinson's disease. 2) XS228 Injection: an allogeneic "off-the-shelf" iPSC-derived subtype neural cell new drug. In May 2025, its Phase I and Phase II new drug registration clinical trial applications were fully approved by the NMPA without any requests for additional information, for the treatment of ALS (Amyotrophic Lateral Sclerosis).Analysts at the China Business Industry Research Institute predict that the size of China's CGT market will increase to 18.631 billion yuan by 2025, with a compound annual growth rate (CAGR) of 134.7% from 2023 to 2025. In terms of technological development, continuous breakthroughs are being made in cutting-edge fields such as CAR-T therapy, gene-editing technologies (e.g., CRISPR-Cas9), and stem cell treatments. The approval and launch of the first domestically produced adeno-associated virus (AAV) gene therapy drug in China and the approval of Pluristem Excellence Biotechnology’s stem cell therapy by 2025 mark an increase in technological maturity, attracting capital towards late-stage clinical pipelines and commercialization phases. With stronger policy support, advancements in technology pipelines, and the improvement of the industrial ecosystem, the CGT industry is expected to provide new momentum for tackling major diseases such as cancer, rare diseases, and chronic conditions.Reference: Announcements from various companies-END-
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