Iaso Bio Announces $108 Million Series C Financing to Accelerate Global Development of Innovative Cell Therapies

VCBeat has learned that IASO Bio announced today the completion of a $108 million Series C financing round to accelerate the global development of its innovative cell therapy product pipeline for oncology and autoimmune diseases. The round was led by CDH Investments, with CCB International participating as a key investor; China Everbright Limited, Co-stone Capital, CIF Investment, and Plaisance Capital joined as follow-on investors, while existing shareholder GL Ventures continued to increase its investment.

The proceeds from this financing round will be used to accelerate the preclinical research, clinical development, marketing authorization applications, and commercialization of IASO Bio's multiple innovative cell therapies. Additionally, the company will leverage the raised funds to expand its pipeline of allogeneic off-the-shelf and solid tumor cell therapy products, expand global partnerships for its core products, and further enrich its existing product pipeline.

Dr. Wang Wen, CEO and CMO of IASO Bio, stated“We sincerely thank our new and existing shareholders for their trust. We are deeply honored and feel a profound sense of responsibility that IASO Bio’s clinical development, innovative R&D, and CMC capabilities, along with its corporate growth potential, have been recognized by top-tier investors both domestically and internationally. Driven by the critical mission of innovative drug development, IASO Bio has, over four years of rapid and steady growth, established a dual-drive development strategy characterized by the synergistic advancement of our cell therapy and biologic drug platforms. Currently, pivotal clinical trials for our fully human anti-BCMA CAR-T candidate (CT103A) are advancing rapidly. Our commercial manufacturing facility has been completed, with validation work nearing completion; two IND applications for the world's first fully human dual-target CD19/CD22 CAR-T candidate have been approved, and registration clinical trials are proceeding as planned; the world's first fully human, dual-epitope anti-CD5 CAR-T candidate has completed preclinical studies and is now in the pre-IND stage.”

“The clinical development of the above three innovative products marks IASO Bio’s comprehensive coverage of cellular immunotherapy products across plasma cell, B-cell, and T-cell malignancies. Furthermore, the clinical development of the company’s core product, CT103A, is advancing across four strategic dimensions: first-line therapy, combination therapy, indication expansion, and international expansion. In the second half of this year, we will also submit two Investigational New Drug (IND) applications for cell therapies.”Currently, a portfolio of fully human monoclonal antibody products from the company's antibody platform are in the IND-enabling stage, with IND applications expected to be filed and clinical development initiated in 2022. This round of financing will help us further advance the development and innovation of our product pipeline, strengthen our strategic positioning in oncology and autoimmune diseases, and expand our product advantages. The IASO Bio team will continue to forge ahead with a pioneering spirit and robust execution capabilities, fulfilling the company's mission to "make innovative therapies the pillar of patient cures."

Mr. Ying Wei, Managing Partner of CDH, said:“The rapid advancement of cell and gene therapies is delivering more breakthrough treatments to patients at an unprecedented pace. Amid an increasingly competitive landscape, IASO Bio has built a robust, fully human-focused product pipeline, driven by its unique insights into immuno-oncology drug development and the exceptional innovation and execution capabilities of its team, with multiple flagship CAR-T products yielding highly promising data. Biopharma remains one of CDH’s top strategic priorities. We are delighted to partner with outstanding industry innovators like IASO Bio. Moving forward, we will further expand our collaborations with leading enterprises in this sector to accelerate the clinical translation and commercialization of innovative therapies, thereby driving the growth of the biopharmaceutical industry.”

CDH is a diversified asset management platform under CDH Investments, distinguished by its specialized thematic equity investment funds. Guided by an investment strategy centered on emerging trends, regional expansion, and counter-cyclical opportunities, it has systematically deployed capital across sectors including semiconductors, biopharmaceuticals, artificial intelligence, military-civilian integration, and high-end equipment. Consistently partnering with driven entrepreneurs, CDH remains committed to creating long-term value.

IASO Bio is an innovative biopharmaceutical company focused on the development and commercialization of cell therapies and antibody drugs. Founded in 2017, the company has established an international management team with extensive experience in new drug R&D, clinical research, and commercialization.

The Company takes the development of cell therapies and antibody therapeutics for hematologic malignancies as the cornerstone of its innovation, while expanding into solid tumors and autoimmune diseases. It possesses comprehensive end-to-end platform capabilities spanning the entire process from early discovery, regulatory submission, clinical development, to commercial manufacturing, alongside multiple technological platforms including a fully human antibody discovery platform, a high-throughput CAR-T drug selection platform, a universal CAR technology platform, a manufacturing technology platform, and a clinical translational research platform.

There are currently eight investigational products at various stages of development. Among them, CT103A (fully human BCMA chimeric antigen receptor autologous T cell injection), the most rapidly advancing product, has entered the late stage of clinical development and was designated as a "Breakthrough Therapy" by the Center for Drug Evaluation (CDE) of the National Medical Products Administration (NMPA) in February 2021. Additionally, the Investigational New Drug (IND) applications for two clinical trials of the Company's independently developed innovative product, CT120 (fully human CD19/CD22 dual-target CAR-T cell injection), received implied approval from the CDE of the NMPA in July this year. The respective indications are CD19/CD22-positive relapsed/refractory B-cell non-Hodgkin lymphoma (B-NHL) and relapsed/refractory acute B-lymphoblastic leukemia (B-ALL).

Backed by a management team with strong execution capabilities, a robust product pipeline, and distinctive innovative R&D and business models, IASO Bio aspires to become an influential innovative biopharmaceutical company in the industry, advancing truly impactful and market-competitive innovative drugs that address critical unmet clinical needs from clinical development to commercialization, thereby paving new therapeutic pathways and bringing new hope to patients.