YiMiao Shenzhou Completes New Round of Financing to Expand Gene and Cell Therapy Pipeline

On October 16, 2020, Beijing Yimiaoshenzhou Medical Technology Co., Ltd. announced that it had completed a C+ round of financing amounting to RMB 100 million. The funds raised will be primarily used to support the research and development of its new oncology product pipeline and to accelerate the market launch of its products.

Beijing Yimiaoshenzhou Medical Technology Co., Ltd., established in 2015, is an emerging biopharmaceutical company dedicated to applying innovative gene and cell therapy technologies to the treatment of malignant tumors. All of Yimiaoshenzhou’s core technologies are independently developed, and the company possesses a one-stop gene and cell therapy platform, mastering key technologies in both research and development and production.

Beijing Yimiaoshenzhou Medical Technology Co., Ltd. has independently developed IM19, a CAR-T cell therapy candidate targeting the CD19 antigen. The company received two clinical trial approvals in April this year and completed the enrollment of the first subject in July. In addition to IM19, the company has established a pipeline of multiple CAR-T cell product candidates for both hematologic malignancies and solid tumors, with some candidates currently in the IND-enabling stage and expected to submit Investigational New Drug (IND) applications next year.

Guided by the mission to “make cancer no longer a terminal illness,” the company envisions becoming a world-class gene and cell therapy enterprise. It has successively received numerous qualifications and honors, including recognition as a National High-Tech Enterprise, inclusion in Beijing’s “Major New Drug Development Special Project,” designation as a Beijing “Science and Technology Rising Star,” support from the Beijing Science and Technology Enterprise Innovation Fund, selection as a Beijing “Fledgling Talent,” inclusion in the Zhongguancun Frontier Reserve Projects, ranking among the “Top 50 Most Investable Companies in China,” and being named “Annual Innovation Star” by Tsinghua University x-lab.

Dr. He Ting, Founder and CEO of Beijing Yimiaoshenzhou Medical Technology Co., Ltd., stated, “In the past few years, China’s gene and cell therapy industry has experienced rapid development, accumulating several notable innovative achievements. Moving forward, the industry will enter a new phase of development as we collectively welcome the launch and commercialization of China’s first batch of CAR-T cell therapies. The successful completion of this new round of financing has further strengthened our confidence in continuously developing our ‘differentiated + industrialized’ R&D portfolio. Yimiaoshenzhou will remain committed to independent research and innovation, continuing to contribute to the field of cancer treatment.”