Jiyuan Gene Secures RMB 100 Million Series A Financing to Advance Next-Generation Off-the-Shelf Cell Therapy for Cancer

HangzhouOctober 24, 2022PR Newswire -- clegenyx announced today that it has completed its A-round financing of RMB 100 million, invested by Vivo (Suzhou) Health Industry Investment Fund (Limited Partnership) ("Vivo RMB Fund"). The proceeds will be used to advance the research and development of the company's next-generation universal off-the-shelf cellular immunotherapy products for cancer treatment.

In recent years, cellular immunotherapy has achieved gratifying results in the field of cancer treatment, demonstrating encouraging efficacy and good safety. It has gradually become a new treatment option for cancer patients and an essential part of comprehensive cancer therapy. Most of the currently marketed cellular immunotherapy products are autologous cell-based, which are expanded ex vivo and then reinfused into the patient. These products typically have long production cycles, relatively high costs, and limited application scope, thus restricting the broader use of cellular immunotherapy. Through a strategy combining independent research and global cooperation, clegenyx aims to develop a new generation of universal, off-the-shelf, mass-producible cell therapy products, which have the potential to meet clinical needs for convenience and immediate availability for patients in the future.

Dr. Ren Keyong, CEO of Clegenyx, stated: "We are highly honored to have the opportunity to collaborate with Vivo (Suzhou) Health Industry Investment Fund (Limited Partnership), sharing the vision and values for the future development of the health industry. We believe that Vivo's deep understanding of the medical and health industry both within and outside of China, as well as their extensive global technological and market resources, will significantly contribute to the growth of our company."

Mr. Shan Fu, Managing Partner, Global Co-CEO, and CEO of Asia at Vivo Capital, stated: "After spending a year thoroughly understanding and conducting due diligence on Clegenyx, we are delighted to officially begin our collaboration. Cell therapy is a crucial treatment method for numerous diseases, including cancer, and we are highly optimistic about the development of the cell therapy industry. Vivo Capital will actively leverage our international resources in cell therapy to help accelerate the company’s R&D progress and quickly advance its products from research to production and commercialization, meeting the needs of patients in China. We also have great confidence in Clegenyx's management team and the company’s global potential, and we are committed to supporting its further expansion into global markets."