▎Edited by the WuXi AppTec content teamAccording to incomplete statistics from Innovation Radar, last week (November 6 to November 12) in the global health and wellness fieldA total of 26 financing events were disclosed, with a total amount exceeding 5.2 billion yuan.In terms of the amount, there were 10 financings over 100 million yuan, with the highest financing amount coming from the American CAR-T cell therapy R&D company, Cargo Therapeutics, Inc., which raised approximately 281 million US dollars in its IPO. In terms of disclosed financing rounds, there were 10 early-stage financings (before Series B) and 9 mid-to-late stage financings (Series B and later).Nine Companies in the Biopharmaceutical Field Receive Financing, involving drug types including CAR-T cell therapy, precision therapies for brain diseases, RNA exon editing therapy, gene therapy, etc.
#01
Cargo Therapeutics, Inc. Goes Public on Nasdaq
Keywords：CAR-T Cell TherapyLatest Financing: $281 Million IPONews on November 9: CARGO Therapeutics announced its listing on Nasdaq. This public offering issued 18,750,000 shares at a price of $15 per share, with total proceeds of approximately $281.3 million. The transaction is expected to be completed on November 14, 2023. CARGO TherapeuticsDedicated to the development of novel Chimeric Antigen Receptor T（CAR-T）Cell Therapy,Aiming to overcome the limitations of approved cell therapies, including issues such as limited durability of efficacy, safety, and unreliable supply. The company's lead candidate projectCRG-022 is an autologous CD22 CAR-T cell therapy., will conduct a Phase 2 clinical trial in patients with large B-cell lymphoma (LBCL) who have developed resistance to targeted CD19 CAR-T cell therapy. In addition, the company is leveraging its proprietary cell engineering platform technology to develop a series of projects involving multiple transgenic therapies.Pipeline, aiming to enhanceCAR-TCell persistence and migration ability to tumor lesions, and help combat tumor drug resistance and T-cell exhaustion.
#02
OrsoBio Completes $60 Million Series A Financing
Keywords：Metabolic Disorder TherapeuticsLatest Financing: $60 Million Series AThis round of investment institutions: Enavate Sciences, Longitude Capital, Eli Lilly and Company, NuevaBio, Samsara BioCapitalOn November 7, OrsoBio announced the completion of a $60 million Series A financing round. OrsoBio is dedicated to developing drugs for the treatment of serious metabolic disorders such as type 2 diabetes, non-alcoholic steatohepatitis (NASH), and obesity. Among these,，TLC-3595 is an orally administered ACC2 allosteric inhibitor., a Phase 2a clinical trial is being initiated in patients with insulin resistance and diabetes. Preclinical studies have shown that TLC-3595 can increase fatty acid oxidation, reduce ectopic lipid accumulation in muscles, liver, and heart, and improve insulin sensitivity. It is reported that the funds will support the development of four pipeline assets of the company, including, in addition to TLC-3595, an ACMSD inhibitor for metabolic and inflammatory liver and kidney diseases, the LXR inverse agonist TLC-2716 for severe hypertriglyceridemia (SHTG) and NASH patients, and a mitochondrial carrier combination.
#03
Ascidian Therapeutics Completes $40 Million Series A Financing
Keywords：RNA Exon Editing TherapyLatest Financing: $40 Million Series AThis round of investment institutions: Apple Tree PartnersOn November 8, Ascidian Therapeutics announced the completion of a $40 million Series A financing round. Ascidian Therapeutics Focuses on Treating Human Diseases by Replacing Mutated Exons at the RNA Level. By Editing Exons at the RNA Level,The RNA exon editing platform developed by the company enables precise post-transcriptional gene editing., thereby producing full-length, functional proteins in the right cells at the right time. The company is currently conducting research and preclinical programs in therapeutic areas including retinal diseases, neurological disorders, neuromuscular conditions, and genetic diseases. Its treatment approach holds the potential to treat patients with a single dose of an RNA exon editor, offering new therapeutic possibilities. It is reported that the funds from this financing round will be used to further advance the company’s project pipeline.
#04
March Bioscience Completes $4.8 Million Financing
KeyTerm: CAR-T Cell TherapyLatest Financing: $4.8 Million Unknown RoundThis round of investment institutions: Cancer Focus FundNovember 9 news, March Biosciences announced that Cancer Focus Fund invested $4.8 million to supportPhase 2 Clinical Trial of MB-105 for the Treatment of Relapsed T-Cell Leukemia and LymphomaMB-105 is a chimeric antigen receptor T-cell (CAR-T) therapy targeting CD5. The CD5 protein is widely expressed in both normal and malignant T cells, including T-cell-associated leukemia and lymphoma, which limits its use as a target for cancer therapy. MB-105 is specially designed to preserve healthy T cells while maintaining its killing ability against CD5-positive tumor cells.
#05
AAVATAR Therapeutics Completes $50 Million Series A Financing
Latest Financing: $50 Million Series AThis round of investment institutions: Shinhan Capital, Smilegate Investment, TS Investment, WONIK Investment PartnersOn November 7, Avatar Therapeutics announced the completion of a 5 billion KRW Series A financing round. Avatar Therapeutics is a gene therapy research and development company dedicated to developing the next generation of AAV (adeno-associated virus). The company develops in vivo gene therapy products based on artificial intelligence (AI) deep learning algorithms.Delivery of AAV9 capable of crossing the blood-brain barrier (BBB) via intravenous injectionAt the same time, Avatar Therapeutics focuses on designing AAV capsids to overcome immune responses during administration. It is reported that this round of financing will be used for automating the vector engineering, production processes, and vector design that constitute the AAV gene therapy platform.
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