Shanghai Cellular Therapy Group Completes RMB 275 Million Series C1 Financing

November 26 News: Shanghai Cell Therapy Group Co., Ltd. (hereinafter referred to as “Shanghai Cell Therapy Group”) completed a C1 round of financing amounting to RMB 275 million.

In this financing round, Industrial Guoxin Asset Management Co., Ltd. (hereinafter referred to as "Industrial Guoxin Asset Management") served as the lead investor with an investment of RMB 180 million, followed by co-investors Ningbo Yuanhui, Shanghai Anting Industrial Development Co., Ltd., and Legend Capital. The total amount raised in the Series C1 financing round of Shanghai Cell Therapy Group was RMB 275 million.

Shanghai Cell Therapy Group is a high-tech enterprise established on the foundation of a municipal-level engineering technology research center approved by the Shanghai Municipal Science and Technology Commission, with the mission to “let cells change the length and richness of life.”

Shanghai Cell Therapy Group launched the Baize Initiative in 2016, with the goals of achieving tumor regression in 60% of cancer patients and making cell therapy accessible to 60% of the general population within the next decade; and enabling people to live healthily and happily to the age of 120 within the next three decades.

Shanghai Cell Therapy Group is also the first platform-based company in China capable of providing customers with "trinity" closed-loop health services and management.Including: a world-class cell production center to be built (a CFDA- and FDA-compliant cell therapy manufacturing facility comprising a 200-room production workshop and a 3,000 m² quality control center), a cell repository with inventory ranking among the highest globally (with storage capacity for 30 million doses), and an authoritative hospital for cell therapy clinical trials that adheres to CFDA- and FDA-compliant clinical trial systems and holds JCI accreditation.

As of November 2018, the Group had filed 114 patents related to cell therapy, including 25 PCT patents, with 20 patents granted (including two U.S. patents). Additionally, the Group obtained clinical ethics approvals for 30 immunocyte therapy technologies, of which 20 were registered with ClinicalTrials.gov (NCT).

Edited by Zimu

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