Grit Biotechnology Announces Completion of $560 Million Series B Financing to Advance Pioneering TIL Therapies for Solid Tumors
Grit Biotherapeutics
Developer of Immunotherapy Drugs for Solid Tumors
Source: Grail Bio
September 8, 2023Grit Biotechnology AnnouncesCompletedRMB 400 million in Series B financingThis round of financing was led by a fund under CICC Capital, with follow-up investments from Qianhai Ark, Lian Dong Investment, Source Harvest Capital, He Fangtian Partnership, as well as existing shareholders Sherpa Healthcare Partners, Decheng Capital, and Matrix Partners China.
This round of financing will be used to support the development of the company's Tumor Infiltrating Lymphocyte (TIL) therapy pipeline, including the pivotal clinical trials of GT101 and the development of multiple next-generation gene-edited TIL pipelines, aiming to create groundbreaking cellular medicines for solid tumor patients worldwide.
Dr. Yarong Liu, Co-founder and CEO of Gracell BiotechnologiesIndicates,We will accelerate the clinical work of the leading pipeline GT101 and achieve product commercialization as soon as possible.Gracell Bio will continue to provide world-class cell therapy products for patients worldwide.
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