Shanghai Longyao Biotech Secures Nearly RMB 100 Million in Series A Funding to Advance CD20-OX40 CAR-T into Phase II Trials
Longyao Biotechnology
Developer of Tumor Immune Cell Technologies and Products
Recently,China Biotech Services (08037)Announced that its subsidiary, Shanghai LongyaoBiotechnologyShanghai Longyao Biological Technology Co., LTD. (hereinafter referred to as "Longyao Bio") has completed its first round of financing of nearly RMB 100 million, with a pre-investment valuation of approximately RMB 800 million. This round of financing was led by Yixing Environmental Science and Technology Industrial Park Industry Development Equity Investment Partnership (Limited Partnership), and the controlling shareholder, China Biotech Services Holdings Limited, continued to increase its investment. The funds from this round of financing will be mainly used for the Phase II clinical trial of the CD20-OX40 CAR-T product and clinical research of other solid tumor pipeline products, as well as the construction of a new GMP cell production laboratory in Yixing.
Shanghai Longyao Biological Technology Co., LTD. was established in 2013. It is dedicated to the research and development of tumor immunotherapy cell technologies and products and is a high-tech enterprise recognized by the state, with a focus on R&D and product development. The company has currently developed multiple pipelines for tumor immunotherapy cell products, covering areas such as hematological tumors and solid tumors.
On January 21, 2021, Shanghai Longyao Biological Technology Co., LTD received the nationalMedicineNotice of Approval by the Supervision and Administration Bureau for the Clinical Trial of Shanghai Longyao's Cell Injection named LY007 ('LY007 Cell Injection'), registered as a Category I New Drug. This is the first and only CAR-T product targeting the CD20 antigen to receive clinical trial approval in China, primarily intended for treating relapsed or refractory CD20-positive B-cell Non-Hodgkin Lymphoma (B-NHL).
Since patients with relapsed or refractory B-NHL treated with CD19 CAR-T therapy still experience non-response and recurrence, CD20 CAR-T, which optimizes the immune response of B cells, is an excellent alternative. LY007 from Shanghai Longyao Biological Technology Co., LTD utilizes a lentiviral vector for genetic modification and incorporates a unique design independently developed by Longyao Biological Technology. This design introduces an independent costimulatory signal receptor, OX40, into the CAR structure, creating a novel CAR-T construct.
This novel structure not only enhances the killing ability of CAR-T cells but also reduces the expression of exhaustion molecules on the cell surface, better maintaining the function of CAR-T cells in the tumor immunosuppressive microenvironment, and is expected to prevent tumor recurrence.
LY007, with its differentiated target, novel structural design, and excellent clinical performance, has simultaneously gained recognition from Academician Saijuan Chen of the National Center for Translational Medicine at Shanghai Ruijin Hospital, Professor Weili Zhao, Vice President of Ruijin Hospital and Deputy Chairman of the Lymphoma Society of the Chinese Medical Association, since the implementation of the Phase I clinical trial project.Jiangsu ProvinceProfessor Li Jianyong, Director of the Hematology Department of the People's Hospital and Vice Chairman of the Integrated Hematology Professional Committee of the Chinese Medical Doctor Association, has shown favor towards this product and jointly participated in its Phase I clinical trial. As of now, the reinfusion of 9 subjects (9/12) across three dose groups has been completed at Ruijin Hospital and Jiangsu Province People's Hospital, demonstrating good safety and efficacy. Currently, the clinical progress of this CAR-T therapy targeting the specific antigen is among the leading in China.
In addition, based on the positive outlook for the international commercial development of the CD20-targeted CAR-T and OX40 patented technology platforms, AstraZeneca (China) signed a strategic cooperation agreement with China Biotech Services Holdings Limited this October. The two parties will collaborate on immune cell therapy in Yixing City to facilitate the implementation of innovative achievements from Shanghai Longyao Biological Technology Co., LTD's projects in Yixing. AstraZeneca will provide comprehensive guidance and support in areas such as cell project design and fund investment, which will help accelerate the pre-market commercial operations and post-market sales expansion of Shanghai Longyao’s products.
At the same time, the strategic cooperation with AstraZeneca also lays a commercial foundation for the future overseas development of the CD20-OX40 CAR-T patent. As a global leaderPharmaceuticalsThe company, AstraZeneca's CGT cell therapy R&D and production base, has products distributed across major economies worldwide. Once the patent licensing collaboration is initiated, it will undoubtedly accelerate the clinical trials and approval process of the product in various countries. With the first-mover advantage, as well as good safety and efficacy, Shanghai Longyao Biological Technology Co., LTD. can leverage AstraZeneca’s global R&D platform and sales network to achieve overseas market entry earlier, treating more patients globally at an accelerated pace.
About Yixing Huanke Park Industrial Development Equity Investment Partnership (Limited Partnership)
Established on September 22, 2021, with a registered capital of 2.5 billion RMB, its general partner is the state-owned enterprise Yixing Jiayi Private Equity Fund Management Co., Ltd., and its limited partner is the state-owned Yixing.Environmental ProtectionIndustry Co., Ltd. and Wuxi Xinyuan Investment Co., Ltd.
E.N.D
Previous article recommendations:
PackGene Biotech Receives Exclusive C+ Round Funding from SDIC Capital
CRISPR Gene Editing Therapy Receives FDA Approval for Market Launch, Priced at $2.2 Million
Bluebird Bio's Cell Gene Therapy Lyfgenia Approved by FDA for Market Launch, Priced at $3.1 Million
Samsung Bio: Raises 2023 Earnings Guidance, Orders Exceed $118 Billion
"Cancer Scare" in CAR-T Therapy May Face Stricter Regulation
CSPC's First siRNA Drug Targeting PCSK9 Approved for Clinical Trials!
$32,000/Bottle! BioMarin's Hemophilia AAV Gene Therapy Launches in Germany
Moderna's First mRNA Drug Factory in China Breaks Ground
He Yuan Biotechnology CAR-T Product Priced at 999,000 RMB per Dose