Neukio Biotherapeutics Secures $40 Million in Series Angel Funding to Advance iPSC-CAR-NK Allogeneic Cell Therapy Platform

SHANGHAI, July 30, 2021 /PRNewswire/ -- Recently, newly founded Neukio Biotherapeutics announced the completion of a $40 million angel financing round. The round was led by Lilly Asia Ventures, with participation from IDG Capital and Sherpa. The proceeds will be primarily allocated to the construction of R&D facilities and the early-stage development of an off-the-shelf immune cell technology platform and its associated products.

Universal off-the-shelf immune cell therapy technology represents a prominent research field and innovation frontier in cellular therapeutics today. While several international projects have already advanced to clinical trials, China remains in a nascent stage in this technological domain. Xingyiang Biotechnology Co., Ltd. focuses on the research, development, and industrialization of immune cell therapeutics. By integrating independent innovative R&D with strategic collaborations and technology introductions from globally leading companies and institutions, the company is developing iPSC-CAR-NK universal off-the-shelf immune cell products, committed to delivering effective therapeutic solutions to cancer patients worldwide.

Dr. Wang Liqun, Founder, Chairman, and Chief Executive Officer of Xingyiang, possesses extensive professional expertise and R&D management experience in the biopharmaceutical sectors of both the United States and China. He previously served as the founding president of Fosun Kite, a joint venture between Fosun Pharma and Kite Pharma. In less than three years, he successfully oversaw the technology transfer, registration clinical trials, manufacturing facility construction, and marketing application for Yikaida, which ultimately became the first CAR-T therapy approved for commercialization by China’s National Medical Products Administration (NMPA). Dr. Wang stated, “Embarking on a new journey from the Shanghai FTZ No. 1 Life Science Park, Xingyiang is actively assembling its core team and is confident in achieving pioneering ‘0 to 1’ innovations in the field of off-the-shelf cell therapies. The company’s angel financing round has already garnered strong interest from several renowned investment institutions focused on innovative therapeutics. We are deeply grateful to Lilly Asia Ventures, IDG Capital, and Sherpa for their recognition and support of our core team’s capabilities and our vision for technological innovation.”

Dr. Shi Yi, Founding Managing Partner of Lilly Asia Ventures (LAV), stated that the clinical efficacy of cell therapy is highly promising, and developing off-the-shelf therapies is a critical pathway for cell therapy to truly achieve widespread clinical application. We are highly optimistic about the prospects of NK cells, and believe that under the leadership of Dr. Wang Liqun, Xingyiang will undoubtedly make breakthrough contributions to the field of cell therapy, benefiting patients in China and around the world.

Mr. Hu Haoyue, Investment Director at IDG Capital, stated that cell therapy will serve as a vital weapon for humanity in the fight against tumors. As our understanding of tumor immunology deepens and cell engineering capabilities continue to advance, various types of cell therapies will continuously expand the boundaries of tumor treatment. CAR-NK represents one of the latest frontiers in cell therapy. As an allogeneic off-the-shelf cell therapy, it holds significant potential for large-scale manufacturing and has already yielded preliminary clinical evidence of efficacy. We believe that under the leadership of Dr. Wang Liqun, Xingyiang will emerge as a pioneer in this field, delivering more effective and accessible cell therapies to patients.

Mr. Cai Daqing, Partner at Sherpa, stated that Dr. Wang Liqun is a pioneering leader in China's biopharmaceutical industry. Under his strong leadership, the company has achieved a leading position in China by delivering solid, concrete milestones. Now, starting anew with renewed resolve, Dr. Wang has embarked on a "from 0 to 1" journey in the iPSC-CAR-NK field—a sector that offers immense potential alongside inherent uncertainties and challenges. We at Sherpa are honored to join other renowned investors in clearing the path and building bridges for Xingyiang, supporting its ascent to new heights.