InnBiorui Completes RMB 230 Million Series A Financing to Advance Off-the-Shelf Allogeneic CAR-NK Cell Therapies

Imbioray (Hangzhou) Biopharmaceutical Co., Ltd. (hereinafter referred to as "Imbioray") announced the completion of a 230 million RMB Series A financing round, which will drive its First-in-Class off-the-shelf allogeneic CAR-NK and NK cell therapy drugs into the clinical stage. This round of financing was jointly led by Shenzhen Lucky-source Fund Management Co., Ltd. and Shenzhen Zhongnan Hongyuan Investment Management Co., Ltd., with participation from Gantry Capital Limited, Zhongguancun Kaiyuan Capital, Oriental Hisheng, BeiYu Imbioray Fund, and other investment institutions. Previously, the company received 80 million RMB in Pre-A round financing from LapamCapital in 2020, bringing Imbioray's total financing to 310 million RMB.

Imbioray was founded in 2014, focusing on the treatment of tumors and immune-related diseases. In 2016, it concentrated on the development of innovative off-the-shelf CAR-NK cell therapies. Through its proprietary technology platform, a series of cellular and antibody drugs have been developed, aiming to address unmet clinical needs. Multiple product pipelines are being advanced into clinical trials simultaneously.

This round of financing will be used to promote imbioray's unique non-gene-modified CAR-raNK.^®And tiNK^®Development of Cell Therapy, Promoting imbioray's Leading Off-the-Shelf CAR-raNK^®Cell Therapy Candidates IBR733 and IBR854 Advance to Clinical Stage, Accelerating Multiple tiNK Pipelines^®and IND-enabling studies for the NK Cell Engager cell therapy candidate, as well as the construction of new GMP facilities, talent pipeline development, strengthening external commercial collaborations, and replenishing working capital.

The core team of Imbioray has more than 20 years of research experience in innovative drugs and clinical translation. Dr. Zhenwei Miao, the founder and CEO, has many years of industrial drug R&D experience, holding key positions in several NASDAQ-listed companies. He served as the Chief Scientist of Enanta, Senior Director of Chemistry at Ambrx, and Chief Technology Officer at Sorrento, successfully advancing multiple blockbuster products into clinical trials and obtaining market approval. Dr. Shizhou Liu, the Chief Medical Officer, has extensive clinical and research experience at Massachusetts General Hospital of Harvard University, the Danish Cancer Society, and the Royal Academy of Engineering in the UK. Later, he became a dual-appointed PI at the Translational Medicine Institute of Zhejiang University and the First Affiliated Hospital of Zhejiang University. He led the clinical development of several drugs at Boehringer Ingelheim, Johnson & Johnson, and CrownBio Apollomics.

Dr. Miao Zhenwei, Chairman of Imbioray, stated: "We are very grateful for the recognition and support from various well-known professional investment institutions. Imbioray will continue to be patient-centered, guided by clinical value, and adhere to the concept of 'The Light of Immunotherapy, Igniting New Hope for Life,' striving to become a leader in the global CAR-NK cell therapy field."

Hu Ju, General Manager of Shenzhen Lucky-source Fund Management Co., Ltd., stated: "Cell therapy will be an important weapon for humanity to combat major diseases such as cancer. Among these, CAR-NK is one of the latest fields in cell therapy. As an allogeneic universal cell therapy, it has the potential for large-scale production and represents a crucial pathway for cell therapy to truly move towards widespread clinical application. The imbioray entrepreneurial team, led by Dr. Miao Zhenwei, focuses on CAR-NK cell therapy and possesses extensive experience in drug development and enterprise management. The company’s unique R&D platform and diverse product pipeline lay a solid foundation for its rapid future growth. We hope to support imbioray in becoming a leading innovative pharmaceutical company in China with international competitiveness."

Dr. Ni Dan, Partner of Shenzhen Zhongnan Hongyuan Investment Management Co., Ltd., said: "We are delighted to support imbioray. The company’s universal NK and CAR-NK cell therapy platform, which utilizes non-viral modification and non-gene editing technologies, demonstrates strong innovation and vast development potential. The products developed based on this technology platform have already shown promising clinical results in the treatment of both hematologic malignancies and solid tumors. The imbioray team possesses deep technological innovation and industrialization capabilities, and we are highly confident that imbioray will rapidly become a leader in the cell therapy field, benefiting patients worldwide!"

Shenzhen Lucky-source Fund is a professional equity investment institution focusing on the biomedicine and healthcare field. Its investment areas mainly concentrate on sub-sectors such as innovative drugs, high-end medical devices, and technology-driven medical services. In the past few years, the core team has invested in nearly 20 projects, including Quanxin Bio, Ascentage Pharma, Chipscreen Biosciences, Gloybio, and HoyoBio. Lucky-source firmly believes that adhering to international capital operation concepts and strategies, along with meticulous cultivation in specialized fields, will undoubtedly create maximum value for both investors and project partners.

Shenzhen Zhongnan Hongyuan Investment Management Co., Ltd. was founded in 2008 as a professional asset management institution, focusing on venture capital in technology fields such as biomedicine, semiconductors, and artificial intelligence. Mission of Shenzhen Zhongnan Hongyuan Investment Management Co., Ltd.: "Empower technology with capital, and let technology benefit humanity!" Healthcare investment cases by Shenzhen Zhongnan Hongyuan Investment Management Co., Ltd.: EpimAb Biotherapeutics, CrownBio, DrugFarm, Inmagene Biopharmaceuticals, Joinn Biologics, Yingli Pharma, CARsgen Therapeutics, GenFleet Therapeutics, Cullgen, and other well-known innovative pharmaceutical companies.

LapamCapital, headquartered in Beijing, is a leading venture capital firm in China's biopharmaceutical industry and the only biopharmaceutical specialized fund invested by the National Social Security Fund. The management team of LapamCapital includes several partners with over 20 years of international and domestic biopharmaceutical industry experience. The fund focuses on investing in innovative drugs and innovative medical devices, covering startups, early-stage, mid-stage, and growth-stage companies. It has invested in nearly 50 innovative drug companies and more than 10 innovative medical device companies, including market leaders such as Betta Pharmaceuticals, RemeGen, Clover Biopharmaceuticals, Stemirna Therapeutics, Kexin Technology, Bioleye Biotechnology, and Aiborn Medical.

Gantry Capital Limited is a professional venture capital institution in the pharmaceuticals industry, focusing on early-stage and growth-stage investments in pharmaceuticals and biotech innovation. The team members all have medical or biological backgrounds and possess years of experience in pharmaceutical investment and the industry. Since its establishment in 2017, Gantry Capital has invested in more than 30 pharmaceutical companies, including Changfeng Pharmaceuticals, Stemirna Therapeutics, Sirnaomics, Jingyi Technology, Huode Biotech, and Zhongji Zhiyao, with a fund management scale reaching 2 billion yuan. Gantry Capital has consistently adhered to the principles of independent research and value discovery, becoming an early investor in many innovative enterprises, aiming to promote the industrialization of scientific and technological achievements through capital.

Zhongguancun Kaiyuan Capital is an industry-financial linkage investment fund initiated and managed by Zhongguancun Venture Capital, focusing on early-stage venture capital in the fields of information technology and biomedicine. Zhongguancun Venture Capital is a well-known venture capital business platform under the Zhongguancun Development Group, mainly conducting venture capital through fund-of-funds investments and direct investments, striving to effectively bridge technology and capital.