CellOrigin Completes Nearly RMB 100 Million Series B Financing to Accelerate Clinical Development of iPSC-Derived Off-the-Shelf Cell Therapies

VCBeat learned第一时间 that on February 16, 2022, CellOrigin Biotechnology (Hangzhou) Co., Ltd. (referred to as: CellOrigin Bio) announced the completion of a new round of financing worth nearly 100 million yuan.This round of financing was led by Ji Feng Capital, with the old shareholder Kunlun Capital making an oversubscribed follow-up investment.

CellOrigin Bio focuses on differentiating engineered pluripotent stem cells (iPSC) into innate immune cells and developing universal cell-based therapeutics. By using gene-edited iPSCs to differentiate into immune cells, the company provides universal, easily editable cell types with promising applications in drug development. Integrating core technologies such as single-cell sequencing, gene regulatory networks, machine learning predictions, and synthetic biology, CellOrigin designs and modifies differentiation processes at the developmental biology level to enhance directed differentiation efficiency. Relevant technologies have been granted national patents in China and Australia. To address factors influencing the in vivo functional effectiveness of macrophages—such as phagocytosis, polarization, and chemotaxis—CellOrigin Bio employs a modular approach to conduct in-depth research and technical optimization. The company has now developed a series of products aimed at enhancing various functions, laying a solid foundation for subsequent pipeline upgrades and clinical translation, enabling better application in tumor immunotherapy.

The founding team of CellOrigin comes from Zhejiang University, Hengrui Medicine, IASO Biotherapeutics, as well as Harvard University and MIT. The founder, Zhang Jin, is a Principal Investigator (PI) at the Zhejiang University School of Medicine. He previously worked at the Harvard Medical School Stem Cell Institute and served as a scientist at Amgen, where he was responsible for establishing an iPSC-based new drug target discovery platform. In 2017, Zhang Jin returned to China and joined Zhejiang University, subsequently founding CellOrigin. His research team was the first in the world to report on the first and second generations of iPSC-derived CAR-Macrophages (CAR-iMac). The team focuses on empowering product development through original innovation and continuously creating differentiated products. Co-founder and CEO Tong Jiansong, Ph.D., joined CellOrigin in September 2021. He is an expert in cancer immunotherapy drug development, having previously conducted gene and cell therapy-related drug development work at The Scripps Research Institute and Sorrento Therapeutics in the United States. After returning to China in 2017, he held positions such as Director/Head of Cell Therapy Department at Hengrui Medicine and IASO Biotherapeutics, as well as Vice President of R&D. He has extensive industry experience in novel target discovery, antibody screening, early-stage CAR-T cell drug development, fully automated closed-process development, cGMP manufacturing, quality control method development, and quality assurance.

Dr. Tong Jiansong, Co-founder and CEO of CellOrigin BioStated: "We are very grateful to our new and existing shareholders for their high recognition of the company's business development and innovation capabilities, and for completing the investment in the company in a very short period of time. The company’s iPSC-derived innate immune cell technology, especially the engineered CAR-iMac cells, is internationally leading. This round of financing will help the company continuously enhance its R&D capabilities and technological iterative innovation, expand the R&D product pipeline with international competitiveness, further strengthen the construction of cGMP facilities that meet clinical needs, recruit various experienced talents, and bring the company’s products to the clinic as soon as possible, benefiting thousands of cancer patients."

Hu Xuyu, Managing Partner of Ji Feng CapitalStated: "The technology of iPSC-derived innate immune cells is expected to break through off-the-shelf cell therapy, eliminating the need for separation from patient blood and waiting for preparation, with the potential for large-scale industrial standardized production, expanding the application scenarios of cell therapy. CellOrigin Bio has top-notch basic research capabilities and process R&D production capabilities, and is internationally leading in engineered CAR-iMac cells. We are very optimistic about the company's iPSC innate immune cell platform technology and the future application of off-the-shelf cell therapy in cancer and autoimmune diseases, hoping that the company’s high-quality products can be launched as soon as possible to benefit more patients."

Zhou Yahui, Founding Partner of Kunlun Capital"We welcome new investors to join us on our journey! Following the previous round of investment in CellOrigin, we are delighted to see significant progress in the company's team building and R&D pipeline expansion under the leadership of the executive team. Meanwhile, there have been very positive clinical developments internationally in CAR-M-related drug development, with the field moving from conceptual validation towards further clinical exploration. We are eager to work with our new shareholders to help CellOrigin accelerate the development of innate immune cell therapies and bring hope to patients as soon as possible."

Jiyuan Capital, founded in 2015, is an outstanding venture capital firm focused on the healthcare sector. It empowers enterprises through comprehensive value-added services and a global perspective, driving innovation with the aim of bringing long-term value to the development of the medical industry and human health. Jiyuan Capital will always maintain its entrepreneurial初心, consistently uphold the spirit of "professionalism, humility, and diligence," and continue to assist and serve entrepreneurs as a strategic partner. It helps businesses establish themselves in China while looking globally, ultimately enabling them to become great enterprises.

Kunlun Capital, founded in 2015, focuses on value investing and emphasizes building long-term partnerships with entrepreneurs. In recent years, Kunlun Capital has been deeply involved in the medical field, seeking industry partners dedicated to addressing unmet clinical needs. The firm has successively invested in outstanding companies such as Keya Medical, EdiGene, Cytek (NASDAQ:CTKB), Huidagene, OBiO Technology, Ocean NanoTech, Uplift Bio, Prime Medicine, Nutshell Therapeutics, Dais Bio, CellOrigin Bio, Grail Bio, Huanma Biotech, Xinsi Technology, and Hexa Pharm.