Wondercel Therapeutics Secures Nearly RMB 100 Million in Angel Funding to Advance Next-Generation Cell Therapies

Wondercel Therapeutics, a next-generation cell therapy company founded by Dr. Fan Xiaohu, has completed an angel financing round of nearly RMB 100 million, exclusively invested by YuanBio Venture Capital. The proceeds from this round will be primarily used to advance the early-stage research and development of its projects.

Dr. Fan Xiaohu, Co-founder and former Chief Scientific Officer of Legend Biotech (NASDAQ: LEGN), is a leading figure in the field of applied immunology and immune cell therapy. At Legend Biotech, Dr. Fan leveraged an entrepreneurial spirit characterized by boldness, innovation, pragmatism, and unwavering determination to build an outstanding research team. He spearheaded the independent development of a series of platform-based intellectual property assets and potential blockbuster products. Among these, cilta-cel (ciltacabtagene autoleucel), the company’s first-in-class bispecific BCMA-targeting CAR-T product, received marketing approval in the United States, the European Union, and Japan in 2022. Owing to its superior clinical efficacy, cilta-cel is poised to become the first “blockbuster drug” originating from China to enter the global market, representing a best-in-class therapeutic among BCMA-targeted innovative drugs. Furthermore, under the global exclusive license and collaboration agreement for cilta-cel between Legend Biotech and Johnson & Johnson, Legend Biotech is eligible to receive potential milestone payments and profit-sharing totaling over USD 1 billion from J&J. The success of cilta-cel fully validates Dr. Fan’s exceptional capabilities in innovation and translational research within the cell therapy sector. Dr. Fan has also been recognized by the internationally authoritative pharmaceutical media outlet Endpoints News as“Top 20 Most Influential Leaders in Global Drug R&D”。

After departing from Legend Biotech, Dr. Fan founded Wondercel Therapeutics following a period of deep reflection. The company remains committed to addressing the current limitations of cell-based therapies by developing safer and more cost-effective next-generation immune cell treatment technologies, thereby unlocking the vast potential of human immune cells in therapeutic areas such as oncology, organ transplantation, and autoimmune diseases.

Dr. Fan Xiaohu, Founder of Wondercel TherapeuticsHe expressed his great pleasure at receiving the recognition and support of YuanBio Venture Capital. He believes that cell and gene therapy will become a primary curative approach for many internal medicine diseases over the next three decades, with broad clinical and commercial prospects. He is only interested in developing innovative best-in-class technologies, akin to Legend Biotech’s ciltacabtagene autoleucel injection, to create products with genuine international competitiveness. Therefore, he is determined to embark on a new entrepreneurial journey from scratch (0 to 1). Leveraging a philosophy of innovation and pragmatism, a corporate culture focused on efficient R&D, and accumulated experience in industry-academia-research-clinical collaboration, he aims to lead Wondercel Therapeutics in achieving further technological breakthroughs in the field of cell therapy.

Mr. Chen Jie, Founding Partner of YuanBio Venture CapitalIt was stated that Dr. Fan Xiaohu returned to China in July 2014 to dedicate himself to the translational development of biopharmaceuticals, where he assembled an R&D team and established an innovative CAR-T technology platform, leading to the development of ciltacabtagene autoleucel injection, a blockbuster drug with original Chinese intellectual property. The global success of ciltacabtagene autoleucel injection fully demonstrates China’s capability in developing novel drugs through foundational innovation. We are delighted that YuanBio Venture Capital has become an angel investor in Wondercel Therapeutics. We hope Dr. Fan will continue to develop an increasing number of high-quality products with significant clinical value for the global market. YuanBio Venture Capital will, as always, collaborate with outstanding scientists both in China and abroad who possess a spirit of originality, to develop more medical products originating in China and serving patients worldwide.

Ms. Ban Bo, Partner of YuanBio Venture Capital Shenzhen Angel FundIt was noted that the Shenzhen Municipal Development and Reform Commission has issued multiple measures, which have significantly benefited innovation and standardized development in the cell therapy industry. We are delighted that Dr. Fan Xiaohu has ultimately chosen Shenzhen as the starting point for his next venture. We are also pleased to see Wondercel Therapeutics receive strong support from both the Shenzhen municipal and district-level governments. I am confident that, leveraging Dr. Fan Xiaohu’s extensive expertise in cell therapy, his relentless pursuit of innovative technologies, and the combined support from capital markets and government policies, Wondercel Therapeutics will deliver more products with high clinical value to patients worldwide.

YuanBio Venture Capital is an investment firm focused on the early and growth stages of the healthcare and medical sectors. Headquartered in Suzhou BioBAY, it maintains a global reach. To date, YuanBio has invested in over 160 outstanding companies in the life and health industries, covering four key areas: innovative drug development, medical devices, in vitro diagnostics (IVD) and precision medicine, as well as healthcare services. The firm has achieved substantial investment returns, with 18 of its portfolio companies having gone public on capital markets such as the Hong Kong Stock Exchange and the STAR Market. YuanBio Venture Capital has been repeatedly recognized as one of the Top 10 venture capital funds in China’s healthcare sector and as one of the most active healthcare investment institutions in China. By bringing together seasoned professional investors and a world-class team of scientific advisors, YuanBio possesses extensive experience in entrepreneurship, venture capital, and corporate operations within the biopharmaceutical industry and beyond. Leveraging its professionalism, focus, and abundant industry resources, YuanBio is committed to becoming one of the most successful medical and pharmaceutical venture capital funds in China.