Ubrigene Completes RMB 150 Million Series C+ Financing to Accelerate Global Expansion and Core Technology Development

VCBeat has learned that Yiming Cell Biotechnology Co., Ltd. (hereinafter referred to as “Yiming Cell”) recently announced the completion of its C+ round financing, raising RMB 150 million. This round was co-led by Guotai Junan Innovation Investment, and the Economic Development Fund and Science & Finance New Momentum Fund under Jinan Industrial Development Group, with Fangfu Venture Capital participating as a follow-on investor. This C+ round marks another financing achievement for Yiming Cell just six months after it secured hundreds of millions of yuan in its Series C funding in September 2022.

This financing will be used to accelerate the company’s global expansion, develop forward-looking core technologies, and further build a comprehensive, globally oriented CGT CDMO platform covering the entire industry chain:

• Accelerate the international expansion of IMMUNE CELL and rapidly initiate overseas production capacity. Align with the needs of overseas customers, leverage the team’s global strengths, and enhance platform development at our bases in the United States and Canada to better serve clients worldwide.

• Consolidate and advance the forward-looking technology development at IMMUNE CELL’s overseas R&D center, accelerate the improvement and further enhancement of the company’s one-stop CGT CDMO full-industry-chain service platform, continue to optimize process development and quality control across six core platforms—including plasmid preparation, viral vector production, cell therapy drug manufacturing, and nucleic acid drug preparation—strengthen original and foundational innovation capabilities, break through bottlenecks in CGT industrialization, improve efficiency and reduce costs, better facilitate the commercialization of biologics, and ensure that new and high-quality drugs reach more patients in greater quantity, faster, with higher quality, and at lower cost.

Dr. Sun Xiulian, Chairman and CTO of IMMUNE CELLStatement: We express our deepest gratitude to our shareholders, investors, and partners for their recognition, trust, and support. We also extend our sincere appreciation to our team for their relentless efforts and hard work. Over the past decade, IMMUNE CELL has personally experienced and witnessed the development and rise of the cell and gene therapy (CGT) industry. Through navigating various challenges, we have achieved substantial growth and emerged as a core participant in the CGT CDMO sector and the new drug R&D value chain. In recent years, IMMUNE CELL has garnered significant favor from the capital market due to its outstanding technological innovation capabilities, high-quality products, and excellent overall performance. Whether during the so-called "capital winter" of 2022 or in 2023, when the CGT market gradually returned to rationality, we have maintained stable cash flow support, which is crucial for achieving IMMUNE CELL’s long-term strategic objectives. The proceeds from this Series C+ financing round will be primarily used to accelerate the company’s internationalization process and to enhance and optimize the construction of our global CGT CDMO full-industry-chain platform. Leveraging our proprietary innovative technologies, high-quality and cost-effective products, and comprehensive one-stop service capabilities, we aim to further expand into overseas markets. We are committed to providing all-around support for global CGT new drug enterprises across multiple stages, including R&D, manufacturing, IND applications, and clinical trials. Although the path to development in the CGT field is arduous and long, perseverance will lead to success. We firmly believe that through continuous technological innovation and improved cost control, we can drive the advancement of CGT, making these once "inaccessible" new technologies available to more patients, thereby promoting healthier lives and a better world.

Jiang Wei, Chairman of Guotai Junan Innovation InvestmentIt was stated that cell and gene therapy (CGT) has introduced entirely new therapeutic concepts and approaches for refractory diseases such as cancer and genetic disorders, becoming one of the most fiercely competitive emerging sectors in the global innovative drug landscape. As a leading CGT CDMO enterprise in China, IMMUNE CELL will benefit from Guotai Junan Innovation Investment’s comprehensive financial services and healthcare industry ecosystem advantages. This partnership aims to strengthen IMMUNE CELL’s technological barriers, accelerate its industrial layout, and help reduce costs and improve efficiency in China’s CGT industry, thereby enabling gene and cell therapies to benefit more patients at an earlier stage.

Meng Xin, Member of the Party Committee and Deputy General Manager of Jinan Industrial Development GroupIt was stated that IMMUNE CELL possesses independent intellectual property rights in its product technologies and is currently one of the few domestic cell and gene therapy enterprises with globally leading technologies. The company has established a first-class CGT-CDMO production base in Jinan. Through its investment in IMMUNE CELL, Chanfa Group aims to cultivate a local “chain leader” enterprise in the CGT industry using industrial capital. By leveraging the company’s existing and future industrial parks in Jinan, this initiative seeks to build a national cluster for the cell and gene therapy industry, thereby enhancing Jinan’s industrial foundation and competitive strength in the CGT sector, attracting top industry talent to the city, helping Jinan become a national hub for cell and gene therapy, and establishing it as a renowned city for high-end biopharmaceuticals.

Zhang Hui, Managing Partner of Fangfu Venture CapitalIMMUNE CELL stated: “After just a few years of rapid development, IMMUNE CELL has established a leading industry position in China’s CGT CDMO sector. During the industry’s downturn, Fangfu Venture Capital provided unwavering support to IMMUNE CELL. With the completion of this funding round, we hope that IMMUNE CELL will accelerate its international expansion and become a global CGT service provider with operations covering both China and the United States.”

• In October 2019, IMMUNE CELL completed a tens-of-millions-yuan angel financing round to strengthen and enhance its CDMO team and upgrade equipment.

• In December 2020, IMMUNE CELL completed a RMB 120 million Series A financing round to advance the development of novel vector technologies and platform processes, comprehensively boosting GMP-grade viral vector production capacity.

• In September 2021, IMMUNE CELL completed a Series B financing round of nearly RMB 200 million to enhance its viral vector manufacturing processes, expand its leading advantages in plasmids and adeno-associated viruses (AAV), accelerate the construction of commercial production facilities both domestically and internationally, strengthen marketing efforts, and continue to lead and drive industry development.

• In September 2022, IMMUNE CELL completed a Series C financing round amounting to hundreds of millions of yuan. The funds will be used to further accelerate IMMUNE CELL’s global expansion, initiate the construction of CMC R&D centers in the United States and Canada, and continuously advance the development and innovation of CGT vector technologies and processes. This initiative aims to strengthen IMMUNE CELL’s leading position in providing one-stop CGT CDMO services, comprehensively increase production capacity for GMP-compliant AAV, plasmids, lentiviruses, adenoviruses, CAR-T, iPSCs, and nucleic acid therapeutics, thereby robustly empowering the development and industrial translation of novel CGT drugs both domestically and internationally.

• In April 2023, IMMUNE CELL completed a C+ round of financing amounting to RMB 150 million, which will be used to accelerate the company’s global expansion, develop forward-looking core technologies, and further build a comprehensive global CGT CDMO industry chain platform.

Guotai Junan Innovation Investment Co., Ltd. (hereinafter referred to as “Guotai Junan Innovation Investment”) is the sole wholly-owned private equity investment management subsidiary under Guotai Junan Securities. It is responsible for managing a variety of alternative assets, including private equity, special opportunity investments, and new infrastructure, with assets under management exceeding RMB 60 billion. The company focuses primarily on four key sectors: emerging technologies, biopharmaceuticals, green development, and consumer livelihoods. By leveraging rigorous end-to-end closed-loop management across the entire investment lifecycle—fundraising, investing, portfolio management, and exit—as well as a professional team, it consistently creates value for its partners and stakeholders.

The Company is committed to building an excellent, rigorous, and professional investment research system and enhancing its comprehensive, full-cycle operational capabilities to create sustainable, long-term, and stable value growth for global investors. It remains focused on cultivating high-growth, high-quality enterprises with strong technological and innovative DNA. By leveraging capital and innovative investment solutions, the Company helps outstanding entrepreneurs unlock their full potential, drives the overall development of the industries in which its portfolio companies operate, and strives to fulfill its mission of serving the nation through finance.

Jinan Industrial Development Investment Group Co., Ltd. (hereinafter referred to as “Industrial Development Group”) was established in February 2016. It is a municipal-level, first-tier state-controlled holding group company approved by the Jinan Municipal People’s Government, integrating business operations such as industrial investment, industrial park development, and industrial operation. The Industrial Development Group has thirteen directly affiliated enterprises and public institutions under its umbrella, with more than 140 wholly-owned and holding subsidiaries, and equity interests in 17 listed companies. Its business spans multiple sectors, including materials, textiles, home appliances, precision engineering, weighing instruments, grain, catering, agriculture, and carbon peaking and carbon neutrality. The Group employs nearly 8,000 people and has total assets approaching RMB 30 billion.

Chanfa Group operates three major fund platforms—Chanfa Fund, Jingfa Fund, and Sci-Tech Innovation Investment—and has established over 50 supporting funds, creating a “3+N” parent-subsidiary industrial fund cluster. The total scale of funds participated in exceeds RMB 45 billion, with cumulative external investments surpassing RMB 10 billion, effectively driving the incubation and development of emerging industries and facilitating the transformation and upgrading of the industrial structure.

Fangfu Venture Capital has always adhered to the long-term investment philosophy of “Research First, Industry Focus, and Partnership Throughout.” Its investment scope covers two major sectors: healthcare and advanced manufacturing. By supporting high-potential teams in their early and growth stages, Fangfu helps enterprises grow and expand, thereby creating incremental value for society. The firm has invested in a portfolio of promising companies that represent the future direction of China’s economic development, including Jingyi Equipment, Jiaxuan Intelligence, Tiluo Medical, Shiguang Technology, Saifu Pharma, Linding Optics, Chuanxin Semiconductor, and Baobang Electric.

Ubrigene Biotechnology Co., Ltd. (Ubrigene), established in October 2015, is an R&D and manufacturing biotechnology company dedicated to the development and application of gene and cell therapy (CGT) technologies, providing comprehensive solutions for the industrialization of CGT.

IMMUNE CELL has initially completed its international corporate layout. The company’s GMP facilities in Suzhou and Jinan, China, cover a total area of over 10,000 square meters and feature dozens of production lines for plasmids, viruses, and cell therapy drugs. These facilities provide one-stop CDMO services to CGT new drug enterprises, including GMP-grade plasmid, AAV, lentivirus, oncolytic virus, CAR-T/NK, iPSC-based drug, and RNA drug manufacturing. Additionally, IMMUNE CELL has established CMC R&D centers in the United States and Canada, focused on the development and application of forward-looking technologies, ensuring that the company’s technical capabilities remain at the international forefront.

IMMUNE CELL boasts a professional technical team, a robust GMP system, and extensive project experience, meeting customer requirements for early-stage R&D, investigator-initiated trials (IITs), investigational new drug (IND) applications, Phase I/II/III clinical trials, and commercial manufacturing. Supporting dual filings in China and the United States, the company provides comprehensive, one-stop CDMO services for CGT clients, covering process development, small-scale trials, pilot-scale production, and clinical sample manufacturing, thereby accelerating the commercialization of novel drugs. Since 2019, the company has undertaken and delivered over 80 batches of IND and IIT products in China. In 2022, four cell and gene therapy IND applications received implicit approval from the Center for Drug Evaluation (CDE), successfully entering clinical stages and establishing differentiated competitive advantages in large-scale AAV vector production within the industry.