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On July 15, Drimmunity / Tcelltech (Fuzhou Tuoxin Tiancheng Biotechnology Co., Ltd.) announced the completion of a nearly US$40 million (approximately RMB 287 million) Series B financing round. This round was led by SDIC Venture Capital, with participation from a well-known insurance capital firm and Hutang Ventures, and received 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.Fuzhou Tuoxin Tiancheng Biotechnology Co., Ltd. is a clinical-stage biopharmaceutical company focused on the development of immunotherapies for solid tumors.The funds raised in this round will be mainly used to support the clinical development of the company’s core pipeline TX-103 in China and the U.S., the research and development of other pipeline projects, the expansion of the global team, as well as to accelerate the company’s international strategic layout and advance BD cooperation.Fuzhou Tuoxin Tiancheng Biotechnology Co., Ltd. was co-founded by Professor Chenli Ping, a pioneer in tumor immunology, and Professor Huang Gangxiong, an expert in immune cell therapy. It is an innovative biopharmaceutical company with a core focus on T-cell immunotherapy products. The company is committed to developing innovative immunotherapies to address significant unmet medical needs, bringing new hope to more cancer patients.TX-103 is a product that has entered the registration clinical trial and launched international clinical trials.B7-H3 CAR-TCell therapy products for solid tumors such as recurrent glioblastoma (rGBM). Glioblastoma (GBM) is the most common primary intracranial malignant tumor. Almost all patients relapse after first-line standard treatment, and the median overall survival (mOS) of recurrent patients is only 6-8 months. After recurrence, the tumor becomes more aggressive and there is a lack of effective subsequent treatment options, representing a significant unmet clinical need. TX-103 has demonstrated excellent efficacy and safety in early clinical trials, significantly extending mOS and markedly improving the one-year survival rate in rGBM patients, with good tolerability. It is expected to break through the current treatment bottleneck and is currently undergoing a global phase 1 clinical trial.In addition, based on the founding team's deep expertise and global leadership in tumor immunology, Fuzhou Tuoxin Tiancheng Biotechnology Co., Ltd. is simultaneously developing next-generation universal/in vivo cell therapies and a T-cell engager platform, striving to build a platform company for solid tumor immunotherapy.The founder of the company stated："We sincerely thank the leading investor SDIC Capital, new investors such as Hotang Venture Capital, and existing shareholders for their unwavering trust and support. This round of financing will strongly accelerate the company’s development progress and inject robust momentum into the research and development of various innovative immunotherapy solutions and multiple pipelines. We will continue to adhere to our original mission, committed to providing cancer patients with treatment options of high clinical value."Source: Fuzhou Tuoxin Tiancheng Biotechnology Co., Ltd.
