IASO Bio Completes C1 Financing Round of Nearly RMB 500 Million, Poised for Commercial Launch of Lead Product

VCBeat learned that,January 18, 2023, Nanjing, Shanghai, and San Jose, USA – IASO Bio, a clinical-stage biopharmaceutical company dedicated to the development of innovative cell therapies, announced the completion of its nearly RMB 500 million Series C1 financing. This round of financing was jointly participated by 11 investment institutions, including Guoxin Investment, EF Capital, Shanghai Waigaoqiao Group, Nanjing Jiangbei State-owned Assets, Houxin Health Investment, and Hongcheng Investment. The funds raised from this round will be mainly used for the research and clinical advancement of the company’s product pipeline, as well as the commercial operations of its core product, Equecabtagene Autoleucel Injection.

IASO Bio's Chief Financial Officer, Dr. Chong Fu, stated："Despite the multiple adverse effects of stricter pharmaceutical industry policies, intensified competition, and a sudden cooling in the capital market, we are very pleased to once again gain the favor of investors and successfully complete this round of financing. The success of this round of financing is another testament to IASO Bio's deep R&D capabilities and outstanding team execution in the field of cell therapy. Over the past year, the company has achieved several significant milestones in both R&D and business development (BD), and is about to make the transition from the clinical stage to commercialization. With the addition of new investors, we will continue to uphold our beautiful vision of 'bringing hope of a cure to patients' and further accelerate the pace of innovation drug development and industrialization, so that China’s cell therapy products can benefit patients in China and around the world as soon as possible."

Chief Operating Officer of Guoxin InvestmentZhao JianhuaIndicates:"Cell therapy is a treatment method that brings hope of a cure to a wide range of patients with hematological tumors. In response to the unmet clinical needs in the field of cellular immunotherapy, IASO Bio has developed a rich and balanced product pipeline, becoming a leading company in China's cell therapy sector. Despite being a late starter, IASO Bio has taken the lead; its Icarusel injection for relapsed/refractory multiple myeloma became the first CAR-T product fully independently developed in China to enter the NDA substantive review stage. The outstanding R&D capabilities, efficient execution, and international vision of the IASO Bio team have left a deep impression on us. The industrial resources of Guoxin Investment will help IASO Bio’s innovative products bring value to more patients."

IASO Bio is a clinical-stage biopharmaceutical company dedicated to the development of innovative cell therapies. With a focus on hematological tumor cell-based drugs and antibody drugs as the cornerstone of innovation, the company is expanding into solid tumors and autoimmune diseases. IASO Bio possesses a complete, end-to-end platform capability spanning early discovery, regulatory submission, clinical development, and commercial production. Its multiple technology platforms include a fully human antibody discovery platform, a high-throughput CAR-T drug optimization platform, a universal CAR technology platform, a manufacturing technology platform, and a clinical translational research platform.

The company currently has 10 pipeline products at various stages of development. The most advanced candidate product, Ixalocel Injection (CT103A), has had its New Drug Application (NDA) officially accepted by the National Medical Products Administration (NMPA) and granted priority review status. It has also received approval from the U.S. FDA for registration clinical trials to treat relapsed/refractory multiple myeloma. This product was previously designated as a "Breakthrough Therapy" by the NMPA and granted "Orphan Drug Designation (ODD)" by the FDA. In addition to multiple myeloma, the Investigational New Drug (IND) application for Ixalocel Injection (CT103A) for an expanded indication—antibody-mediated Neuromyelitis Optica Spectrum Disorder (NMOSD)—has been approved by the NMPA. Another innovative candidate product independently developed by the company, CT120 (a fully human CD19/CD22 dual-target CAR-T cell injection), has entered the clinical research stage with indications including...CD19/CD22Positive relapsed/refractory B-cell non-Hodgkin lymphoma (B-NHL) and relapsed/refractory acute B lymphoblastic leukemia (B-ALL), and has received the FDA's "Orphan Drug Designation (ODD)."

IASO Bio firmly adheres to the path of international development, upholding the principles of win-win cooperation and collaborative innovation. The company has successively reached BD licensing or R&D collaboration agreements with overseas cell therapy companies Sana Therapeutics, Cabaletta Bio, and Umoja Biopharma based on IASO’s clinically validated fully human CAR constructs or sequences, actively exploring the development of next-generation cell therapy products. With its strong management team, innovative pipeline, in-house GMP manufacturing, and robust clinical development capabilities, IASO Bio aims to provide transformative, curative, and affordable innovative therapies to meet unmet medical needs of patients in China and around the world.