Junsai Bio Completes Nearly RMB 100 Million Series A Financing to Accelerate TIL Cell Therapy Pipeline; Horizon Capital Serves as Exclusive Financial Advisor

Recently, Shanghai Juncell Therapeutics Co., Ltd. (hereinafter referred to as “Juncell Therapeutics”), a TIL cell therapy company, announced the completion of its nearly RMB 100 million Series A financing round.This round of financing was led by Kaitai Capital, with participation from Mifang Capital. Existing shareholder Furong Investment continued to increase its stake, while Haoyue Capital served as the exclusive financial advisor for this round.。

A Global Leader in Innovative Cell Therapies for Solid Tumors

Juncell Therapeutics, founded in Shanghai in July 2019, is a globally leading innovative enterprise specializing in novel cell therapies for solid tumors. The company is dedicated to developing innovative Tumor Infiltrating Lymphocyte (TIL)-based therapies and First-in-class/Best-in-class cellular drugs for various recurrent and refractory tumors. Juncell Therapeutics boasts a professional team in the field of cell therapy. Its founder, Dr. Jin Huajun, has devoted over a decade to researching tumor immunology mechanisms and cell therapies, accumulating extensive experience in the preclinical development and clinical research of TIL cell therapies. The company has established core technologies, including efficient and simplified TIL cell enrichment and culture, as well as highly effective and safe non-viral vector-based T-cell genetic modification, demonstrating distinct technical characteristics and prominent advantages in the field of gene and cell therapy.

Juncell Therapeutics GMP Workshop and Quality Control Laboratory

Tumor-infiltrating lymphocytes (TILs) are a population of host lymphocytes that infiltrate tumor tissues, where they recognize, resist, and attack tumors. The mechanism of action of TILs involves the direct killing of tumor cells through the release of cytotoxins. Furthermore, TILs can modulate the body’s immune function, thereby enhancing its capacity to kill tumor cells. While CAR-T cell therapy has demonstrated significant efficacy in hematologic malignancies, its performance in solid tumors has been suboptimal. As an effective therapeutic approach for solid tumors, TIL cell therapy is currently being evaluated in clinical trials worldwide for various indications, including metastatic melanoma, nasopharyngeal carcinoma, head and neck squamous cell carcinoma, cholangiocarcinoma, recurrent or refractory ovarian cancer, osteosarcoma, cervical cancer, ovarian cancer, non-small cell lung cancer, glioma, and pleural mesothelioma.

At the SITC 2020 conference in November 2020, Iovance Biotherapeutics announced clinical trial results for its tumor-infiltrating lymphocyte (TIL) therapy candidate LN-145 in combination with pembrolizumab (a PD-1 monoclonal antibody) for the treatment of advanced, recurrent, or metastatic head and neck cancer. The regimen achieved an objective response rate (ORR) of 44% and a disease control rate (DCR) of 89%. Furthermore, Iovance’s TIL therapy pipeline demonstrated promising efficacy in the treatment of advanced melanoma (ORR: 36%), cervical cancer (ORR: 44%), and advanced non-small cell lung cancer (NSCLC) that had progressed after treatment with Opdivo (nivolumab) (ORR: 25%). As TIL therapy continues to exhibit robust efficacy across an expanding range of solid tumors, it offers new hope for a broad patient population.

Dr. Jin Huajun, Founder of Juncell TherapeuticsJuncell Therapeutics stated that TIL cell therapy is a highly promising yet challenging personalized treatment strategy for solid tumors. After nearly a year of dedicated efforts, Juncell Therapeutics has made significant progress in technical areas such as TIL enrichment and culture, as well as non-viral vector-based T-cell genetic modification. Currently, its product has entered the stage of non-registration clinical studies. Meanwhile, the professional team continues to expand, and the GMP-compliant production facility has been completed, laying a solid foundation for the company’s steady and healthy development. We are honored to have completed Series A financing in a short period, gaining the favor of renowned biomedical funds such as K2VC and Mefang Capital. We also appreciate the increased support from existing shareholder Furong Capital, the strong assistance from Yuanhe Origin, and the consistent professional support from HealthJoy Capital. We will remain focused on the field of TIL cell therapy and accelerate the development of novel TIL-based drugs.

Mr. Chang Nannan, Executive President of Kaitai CapitalIt was stated that TIL therapy has demonstrated remarkable clinical efficacy in various solid tumors, including head and neck cancer and cervical cancer, indicating the industry’s growing maturity. Juncell Therapeutics possesses a highly advantageous TIL culture and engineering system, along with extensive experience in the clinical development of TIL therapies. Kaitai Capital remains steadfast in its value investment philosophy. We are honored to participate in Juncell’s endeavors, providing new therapeutic avenues for cancer patients.

Mr. Sun Lei, Managing Director of Mifang Capitalstated, "We are delighted to join the Juncell Therapeutics family. We have been closely following the latest advancements in immune cell therapy both domestically and internationally, particularly in the field of solid tumor treatment. Tumor-infiltrating lymphocytes (TIL) have already demonstrated promising therapeutic efficacy in several tumor types. We look forward to seeing further progress with TIL therapy in a broader range of solid tumors, and we anticipate that Juncell Therapeutics will accelerate its momentum and emerge as a leader in this field."

Mr. Sun Pengjun, Chairman of Furong InvestmentStating that, as one of the early investors in Juncell Therapeutics, we have continued to increase our investment in this round. The team’s efficient execution is impressive; they completed the entire platform build-out within a year and achieved clinical enrollment for multiple investigator-initiated trials. We remain firmly bullish on the company’s development and look forward to breakthroughs in the application of TIL therapy for solid tumors.

Mr. Li Yishi, Partner at Haoyue Capitalstated, “We are honored to have assisted Juncell Therapeutics in completing this round of financing. The field of cell therapy has now entered a phase of vibrant and diversified growth, and Haoyue Capital is committed to serving the highest-quality enterprises within the cell therapy industry. Overcoming the challenges of treating solid tumors represents the next frontier for cell therapy, with TIL (Tumor-Infiltrating Lymphocyte) therapy poised to serve as a specialized force in tackling these difficult obstacles. Juncell Therapeutics boasts a mature and stable operational system, underpinned by exceptionally strong competitiveness. We believe that, with the support of capital, Juncell Therapeutics will accelerate its development and emerge as a global leader in the TIL cell therapy industry.”

Founded in 2009, Kaitai Capital is a professional venture capital management firm primarily engaged in innovation investment, industrial investment, and wealth management. Currently, the firm’s assets under management exceed RMB 50 billion, with four core investment sectors: medicine and biotechnology, digital health and digital healthcare, artificial intelligence and the digital industry, and community innovation and consumption upgrading.

Med-Fine Capital is a specialized investment fund focused on the pharmaceutical, healthcare, and life sciences sectors. Its management team possesses extensive industry expertise in pharmaceuticals and healthcare, along with rich experience in venture capital. Med-Fine Capital has completed investments in approximately 40 emerging companies, including TianGuangShi (antibody drugs), Hanyu Medical (interventional devices), ZanRong Pharma (new drug R&D), QiuZhen Medicine (tumor sequencing), LingKe Pharma (new drug R&D), AnSong Technology (orthopedic devices), JiaJian Medicine (genetic sequencing), Micron Biology (POCT), and SaiFu Pharma (CRO). Adhering to the philosophy of “focusing on pharmaceuticals, healthcare, and life sciences, leveraging capital value, and rewarding trust,” Med-Fine Capital is committed to becoming an open, platform-oriented professional pharmaceutical investment fund with outstanding international competitiveness and far-reaching reputation.

Furong Investment is a technology finance and innovation & entrepreneurship platform initiated by the Ningbo Institute of Fudan University. Leveraging Fudan University’s robust resources in talent, scientific research, academia, and clinical practice, it promotes the industrialization of related scientific and technological achievements and fosters innovation and entrepreneurship among high-level talents. Actively supporting national innovation-driven development strategies—such as the integrated development of the Yangtze River Delta region and Shanghai’s initiative to build a globally influential science and technology innovation center—it focuses primarily on incubating and investing in early- to mid-stage projects in fields including life and health, integrated circuits, new energy, and new materials.

Haoyue Capital was established in January 2014, dedicated to serving as a bridge connecting China’s healthcare industry with capital. Its research and transaction coverage spans multiple sub-sectors, including biopharmaceuticals, innovative medical devices, in vitro diagnostics (IVD) and precision medicine, healthcare services, and smart healthcare. The Haoyue Capital team comprises senior investment bankers with extensive experience in China’s healthcare sector. By closely monitoring market dynamics and investment trends in healthcare over the long term, the firm releases weekly healthcare investment updates and special thematic research reports, offering Haoyue’s perspectives on new policies and emerging frontiers.