GRIT Biotechnology Secures Over RMB 100 Million Series A Financing to Advance TIL Therapy Clinical Trials Across Multiple Solid Tumor Indications

VCBeat (WeChat ID: Vcbeat) has learned that on December 11, Zhuhai GRIT Biotechnology Co., Ltd. announced the completion of its Series A financing round, raising over RMB 100 million. The round was co-led by Decent Capital, a globally leading venture capital firm, and Matrix Partners China. Sherpa Investments, the angel-round investor, also continued to participate in this round. The funds will primarily be used to advance the clinical research of GRIT Biotechnology’s investigational tumor-infiltrating lymphocyte (TIL) therapy across multiple solid tumor indications, as well as to support the preclinical development of its next-generation TIL product pipeline.

Grit Biopharma is an innovative pharmaceutical company dedicated to developing cell therapy drugs for patients with solid tumors. At this stage, Grit Biopharma focuses on the research, development, and application of Tumor-Infiltrating Lymphocytes (TIL), which the company considers to be the most cutting-edge, competitive, and commercially viable technological direction in the field of solid tumor treatment.

Dr. Liu Yarong, Founder and CEO of Gravel Bio, stated, “We are deeply grateful to Desheng Capital, Matrix Partners China, and our angel investor Sherpa Capital for their recognition and support of Gravel Bio. Our team will work closely with clinical experts to accelerate the development of TIL therapy in China, enabling more patients with solid tumors to regain the joy of life at an earlier stage.”

Founded in 2018, Sherpa Capital was established by founders who previously worked together at a renowned Chinese venture capital firm. In 2011, they built and led its healthcare investment team, overseeing healthcare investments and managing healthcare funds. United in purpose and spirit, the Sherpa Capital team has weathered challenges and forged ahead with determination. Today, Sherpa Capital has become an influential venture capital institution in China’s healthcare and medical sector.

Founded in 2012, it is a leading venture capital firm dedicated to the biopharmaceutical and healthcare sectors. Leveraging the historic opportunities presented by the rapid growth of China’s healthcare industry and the revolutionary innovations in global life sciences, Decheng Capital provides funding and strategic support to entrepreneurs, founders, and inventors. The firm maintains offices in Silicon Valley and New York in the United States, as well as in Shanghai, China. Currently, Decheng Capital manages four US dollar funds and one RMB fund, with assets under management exceeding US$2 billion.

As one of the most active venture capital firms in the early market, Matrix Partners China has remained deeply rooted in the local ecosystem for over a decade since its establishment, steadfastly investing in Chinese entrepreneurs. The firm has invested in more than 660 companies, including recently listed entities such as Li Auto, XPeng Motors, RemeGen, and Peijia Medical, as well as leading internet companies like Didi Chuxing, Ele.me, Guazi Used Cars, Futu Holdings, LexinFintech, Momo, Liepin, Yuanfudao, and VIPKID. Additionally, its portfolio features a large number of high-quality healthcare enterprises, including Kemdi Diagnostics, Taimei Technology, Zhiyun Health, Zenon Biotech, Drug Research Club, InnoCare Pharma, and D3 Bio.