Over $120 Million Raised! Origin Biosciences Completes Series B Financing Co-led by Qiming Venture Partners and FountainVest Partners

August 1, Shanghai, China — Oricell Therapeutics Holdings Limited (referred to as "Oricell Therapeutics" or "the Company"), a company dedicated to becoming a global innovator in drug development, announced the completion of a Series B financing round totaling over 120 million US dollars. This round was co-led by Qiming Venture Partners and Quan Capital, with participation from new investors such as Shanghai Science and Technology Innovation Fund, Sinopharm Capital (formerly known as Sinopharm Capital Management), Suzhou Changshu Government Industrial Fund, Shanghai Boquan Investment, and several international investment funds. Existing shareholder Xiamen C&D Emerging Industry Equity Investment Co., Ltd. continued to increase its investment. The proceeds from this financing will primarily be used to advance the development and commercialization of the Company’s more than ten tumor cell therapy product pipelines that have undergone robust proof-of-concept (POC) validation, further enhance the construction of the Company’s self-innovative technology platforms, and support the planning and construction of future commercial production bases.

Qrigincell Therapeutics is a leading innovative biopharmaceutical company in China, dedicated to developing tumor cell immunotherapy products through its self-innovative technology platform. After more than seven years of deep cultivation, Qrigincell Therapeutics has reached this milestone year in 2022.

In terms of research and development progress, the company's first self-developed CAR-T product (Ori-C101) targeting GPC3 for the treatment of advanced liver cancer has received acceptance from the Center for Drug Evaluation (CDE) of the National Medical Products Administration (NMPA) for its Investigational New Drug (IND) application. In previous clinical studies, Ori-C101 has demonstrated good safety and efficacy in patients with GPC3-positive advanced liver cancer. At the 2021 American Society of Clinical Oncology (ASCO) Annual Meeting, Oricell Therapeutics presented data from an investigator-initiated Phase I clinical trial as of March 31, 2021: an objective response rate (ORR) of 44%, a disease control rate (DCR) of 78%, including Patient 07 whose MRI results showed that the largest tumor diameter decreased from 133mm to 9mm, shrinking by more than 93% after 28 days post-infusion. To date, clinical follow-up data shows that the longest response has exceeded 22 months, and follow-up is still ongoing.

OriCell Therapeutics Develops China's First GPRC5D CAR-T Product, OriCAR-017, for the Treatment of Relapsed/Refractory Multiple Myeloma (RRMM). The Phase I Clinical Trial (POLARIS) Initiated by Investigators Fully Demonstrates the Significant Development Potential of This Product. OriCell Therapeutics Presented the Clinical Results as of April 30, 2022, in Oral Reports at the 2022 ASCO and the 2022 European Hematology Association (EHA) Annual Meetings. Data Showed That All Subjects, Including Five Who Had Previously Failed BCMA CAR-T Therapy, Achieved a 100% Objective Response Rate (ORR) and a 100% Minimal Residual Disease (MRD)-Negative Rate, with Sustained Progression-Free Status, No Need for Additional Anti-Tumor Treatment, and Good Safety. Currently, OriCell Therapeutics Is Accelerating the Registration and Clinical Development Process in Both China and the United States.

In terms of product collaboration, Oricell Therapeutics licensed out OriBS-001 (ATG101), a globally innovative bispecific antibody targeting PD-L/4-1BB developed in-house, to Antengene Corporation (06996.HK) in 2019. Following the approval of clinical trial applications by the FDA and Australia’s TGA, it also received tacit approval from China’s CDE in March this year.

In March this year, Dr. Wei Dong Cui, former Chief Technology Officer of Fosun Kite, joined Oricell Therapeutics as the company's Chief Technology Officer. Dr. Cui has over 20 years of experience in full-process management of process development, GMP production, and commercial operations for biologics and cell therapy drug products, and has successfully led his team to complete the production, clinical trials, and market application of the first CAR-T drug in China. In addition, in the first half of this year, the company has successively recruited more than a dozen experienced scientists and professionals in areas such as process development, production, quality management, regulatory submissions, and clinical research for cell therapy products, forming a lean and industrialized CAR-T product development team.

"Despite the dual challenges of what the industry commonly refers to as the 'capital winter' and the pandemic, we have successfully completed our Series B financing round of over 100 million US dollars," said Yang Huanfeng, Chairman and CEO of Oricell Therapeutics. "We are extremely grateful for the unwavering commitment from our investors in this round, who have shown great recognition and support for Oricell Therapeutics and our team. I believe that in the next three years, Oricell Therapeutics will achieve more milestones in original innovation and clinical value. Within China’s current open, inclusive, and dynamic innovative pharmaceuticals ecosystem, we will continue to work hard to grow into a biopharmaceutical enterprise with a broad vision, integrated into the global innovation system."

Hu Xubo, Managing Partner of Qiming Venture Partners"We have been deeply involved in and supportive of Oricell Therapeutics' innovative R&D based on clinical value as the first-round investor and participant in each round of investment. China's innovative research and clinical capabilities have been continuously developing, with the potential to reach internationally leading levels in certain fields. From the growth trajectories of many startups, including Oricell Therapeutics, we have also observed the trend of Chinese innovative companies becoming a significant part of global innovation. We have full confidence and high expectations for Oricell Therapeutics and will continue to support the company’s development."

Yang Yingying, Executive Director of Quanchuang Capital"We have always focused on cell therapy as a key area at Quanchuang, especially in the field of solid tumors, where we believe there is still a significant unmet need. We are highly optimistic about Oricell Therapeutics' technical platform reserves and the potential of its R&D pipeline. At the same time, we will work with the company's excellent management team to help optimize and advance the pipeline's layout and progress, supporting Oricell Therapeutics to become a future leader in the cell therapy field."

Qiming Venture Partners was founded in 2006 and has successively established offices in Shanghai, Beijing, Suzhou, Hong Kong, Seattle, Boston, and the San Francisco Bay Area. Currently, Qiming Venture Partners manages 11 US dollar funds and 7 RMB funds, with total managed assets under management reaching 9.4 billion US dollars. Since its establishment, it has focused on investing in outstanding early-stage and growth-stage companies in industries such as Technology and Consumer (T&C) and Healthcare.

Quan Capital is a venture capital fund focused on early and growth-stage life science companies. Driven by innovation and guided by unique insights in both science and business, it seeks, creates, and invests in leading life science companies with rapid development potential on a global scale. The current investment portfolio includes cutting-edge innovative therapies, advanced technology platforms, and industry leaders that fill ecosystem gaps. Quan Capital currently has offices in Shanghai, San Francisco, and Boston.

The market-oriented母fund initiated by Shanghai International Group has managed assets exceeding 12 billion yuan. It focuses on strategic emerging industries such as new-generation information technology, biomedicine, advanced manufacturing, and environmental protection and new energy. The direct investment fund mainly covers early-stage and growth-stage sci-tech innovation enterprises that align with national strategies, possess technological leadership and originality, demonstrate significant import substitution effects under the dual circulation pattern, and have unicorn potential.

Shanghai Boquan Investment adheres to the concept of long-term value investing, focusing on investments in the healthcare sector. It is committed to seeking out and supporting promising early-stage and growth-stage enterprises, converting accumulated resources into empowerment for these companies, and growing together with them. Its investment scope covers areas such as biopharmaceuticals, medical devices, healthcare services, and diagnostics.

Initiated by the Suzhou Fund Management Team in 2021 and established in the Wuzhong Biomedical Industrial Park, the fund leverages Suzhou's strong biomedical industry and excellent innovation environment. Focusing on the broader healthcare industry, it deeply cultivates areas such as biomedicine and medical devices. The fund is committed to becoming a specialized, market-recognized outstanding fund, providing comprehensive support and services for enterprise growth, and contributing continuous financial momentum to the thriving development of China’s healthcare industry.

Initiated and founded by the former management team of Sinopharm Group in 2012, focused on early-stage and growth-stage equity investments in the pharmaceuticals and healthcare sector. With over 6.5 billion yuan in funds raised, it has invested in more than 80 leading enterprises in the pharmaceuticals and healthcare field, fully covering early innovation, growth, and merger integration projects. Adhering to the philosophy of "Sincerity, Professionalism, and Win-Win," Sinopharm Capital Management Limited Company consistently supports the growth of its portfolio companies. It combines the strategic investment advantages of a Corporate Venture Capital (CVC) with the market-oriented strengths of an independent VC fund, while continuously empowering investee companies through its own industry resources.

Xiamen C&D Emerging Industry Equity Investment Co., Ltd. is a professional equity asset management institution under the "Fortune Global 500" company, C&D Group. Established in 2014, the company's mission is to "create new value and help more emerging enterprises achieve better development," with a focus on new economic sectors such as healthcare, advanced manufacturing, TMT/consumer goods.