Yiming Cell Therapeutics Secures Nearly RMB 200 Million in Series B Funding to Accelerate Global Commercial Manufacturing Facility Expansion
In September 2021, IMMUNE CELL (Beijing) Cell Biotechnology Co., Ltd. (hereinafter referred to as "IMMUNE CELL")Officially Announces Completion of Nearly RMB 200 Million in Series B Financing。This round of financing was jointly invested by Addor Capital and IDG Capital., existing shareholdersJuming Venture Capital, Huagai Capital, Cowin Capital, Zhongguancun Qihang Investment, and Fangfu Capital continue to increase their support.This financing round came just over six months after IMMUNE CELL completed its previous funding, fully demonstrating institutional investors’ strong affirmation of the company’s current achievements in the gene therapy CDMO sector and their robust confidence in its future development.
This financing will further strengthen IMMUNE CELL’s leading position in the field of cell and gene therapy drug CDMO in China, accelerate the construction of its domestic and international commercial production facilities and market promotion, and continuously advance the development and innovation of vector technologies and processes.Building on the completed 200L serum-free suspension production process, we will accelerate the implementation of 500L and 2000L production capacities to comprehensively enhance the manufacturing capacity of GMP-grade plasmids, lentiviruses, AAVs, adenoviruses, and other products, thereby speeding up the development and market launch of CGT new drugs both domestically and internationally.
Dr. Sun Xiulian, Chairman of IMMUNE CELLstated: “We extend our sincere gratitude to the new investors for their recognition and support, and to our existing shareholders for their continued backing. We are especially grateful to every member of our team for their relentless efforts and hard work, and we also thank our corporate partners for their strong support and close collaboration over the years.”IMMUNE CELL is committed to providing one-stop CDMO services for gene therapy companies. Leveraging the team’s over a decade of experience in viral vector preparation and the company’s extensive expertise in large-scale GMP manufacturing of gene therapy viral vectors accumulated over the past five years, IMMUNE CELL has established five core technology platforms: plasmid preparation, viral vector preparation, CAR-T cell preparation, process development, and quality control. These capabilities comprehensively empower the research and development of biopharmaceuticals in China."This round of financing will further enhance the manufacturing processes for viral vector production and accelerate the commercialization timeline, expand the company’s leading advantages in areas such as plasmids and AAVs, drive the construction of domestic and international commercial production facilities, strengthen marketing efforts, and continue to lead and promote industry development."
Zhang Lu, Investment Director at Yida Capital“The cell and gene therapy sector is a key area of focus for Yida Capital’s healthcare investments. In recent years, China’s cell and gene therapy field has experienced rapid growth, leading to a sharp increase in demand for CDMO services. The core members of IMMUNE CELL’s technical team come from well-known North American CDMOs specializing in cell and gene therapies. This strong team background gives IMMUNE CELL a competitive advantage over domestic peers from the outset. Currently, the company has GMP-compliant capabilities for large-scale viral vector production, particularly excelling in adeno-associated virus (AAV) vector preparation and GMP quality control systems, positioning it at the forefront in China. Through this collaboration, Yida Capital aims to help the company expand its industrialization scale and ultimately become an internationally leading cell and gene therapy CDMO.”
Dr. Zi Xuan Pang, Vice President of IDG Capitalstated: “IDG Capital remains bullish on the development of the gene therapy sector and has made extensive investments in this field. The core team of IMMUNE CELL boasts rich professional expertise. Over the past six years since its establishment, we have been pleased to witness IMMUNE CELL’s continuous achievements and are even more optimistic about its prospects in the gene therapy CDMO space. We will continue to look forward to and support the future development of IMMUNE CELL.”
Guo Hua, Managing Partner of Juming Venture CapitalIt stated: “With the rapid development of the global cell and gene therapy market, the CGT-CDMO market is also growing steadily. IMMUNE CELL boasts an international professional team, 200L clinical-grade viral fermentation capacity, and unique high-efficiency purification methods, among other advantages, maintaining its leading position in China’s CGT-CDMO industry. Since the Pre-A round, Juming has continuously invested in IMMUNE CELL and will continue to support the company’s development and growth in the future.”
Zhang Yi, Managing Partner of Huagai Medical Yangtze River Delta FundHuaGai Capital, as a long-standing shareholder of IMMUNE CELL, remains optimistic about the development trends in the gene and cell therapy CDMO sector. Over the past few months, IMMUNE CELL has made gratifying progress. Led by Dr. Sun Xiulian, its management team demonstrates a pragmatic and enterprising work style, striving for excellence in process and technology. As one of the lead investors in the previous funding round, HuaGai Capital continues to have confidence in IMMUNE CELL’s growth prospects and has increased its investment in this round. HuaGai Capital will fully support IMMUNE CELL in becoming an influential one-stop R&D and manufacturing CDMO platform for gene therapies both domestically and internationally, thereby contributing to the development of China’s cell and gene therapy industry chain.
Xi Yanbin, Partner at Cowin Capital Beijing Healthcare Fundstated: “IMMUNE CELL possesses profound expertise and accumulated experience in its technologies, standing as one of the few R&D-focused biotechnology companies in China capable of providing end-to-end services for gene and cell therapies, from research and development to clinical application. Since partnering with IMMUNE CELL in 2019, we have witnessed the company’s steady and robust growth, marked by the establishment of its gene and cell therapy CDMO facilities in Jinan and Suzhou. This progress has been driven by the relentless efforts of a core team led by Dr. Sun Xiulian. We highly recognize IMMUNE CELL’s pursuit of excellence and look forward to collaborating with such an outstanding enterprise to achieve shared success.”
Yida Capital was established through the mixed-ownership reform of Jiangsu High-Tech Investment Group, a well-established and renowned venture capital institution. It ranks among the industry leaders in terms of industry research capabilities, assets under management, and investment specialization, making it one of the most influential venture capital firms in China.
Pursuing Long-Term Value, Investing in Leading-Edge Technologies. Leveraging years of industry expertise, Yida Capital has established a comprehensive equity investment fund system that supports innovators and entrepreneurs throughout their entire lifecycle. Its investment portfolio spans multiple strategic emerging industries, including clean technology, healthcare, new materials, advanced manufacturing, smart transportation, consumer services, cultural industries, and TMT.
As of July 2021, the management team of Addor Capital had cumulatively managed capital totaling RMB 115.5 billion, invested in and supported 1,071 startups, and helped 216 of these companies list on domestic and international capital markets.
IDG Capital pioneered venture capital investment in China in 1993. To date, it has invested in over 1,000 outstanding companies worldwide, with more than 300 successful exits. IDG Capital focuses on leading enterprises in sectors such as Technology, Media, and Telecom (TMT), new consumer goods and services, culture and entertainment, healthcare, advanced manufacturing, and clean energy. Its investment scope covers all stages, including start-up, growth, mature phases, as well as mergers, acquisitions, and restructuring. In the healthcare sector, its portfolio includes renowned companies such as MGI Tech, Suzhou Caike, Ping An Good Doctor, BoYa Edgene, HighCon Bio, BioAim Technologies, ZenGrid Biotech, Shengsi Biopharm, MicroTech Medical, Keya Medical, and AccutarBio.
Juming Venture Capital was established in 2018, focusing on partnering with outstanding enterprises in the fields of innovative drugs, biotechnology, and medical devices (including diagnostics), accompanying entrepreneurs in their growth, and serving a large number of unmet clinical needs. Currently, Juming Venture Capital manages five funds with a total scale of approximately RMB 2 billion. Since its establishment, Juming Venture Capital has cumulatively invested in nearly 40 companies, including areas such as new drug development, biotechnology, medical devices, and diagnostic reagents, with many companies in the pre-IPO preparation stage.
Huagai Capital, established in 2012, is a private equity investment firm co-founded by professionals from renowned domestic and international investment institutions. With the vision of “becoming the most trusted capital partner for entrepreneurs and investors,” the company focuses on private equity investments in three key sectors: healthcare, TMT (Technology, Media, and Telecom), and digital innovation, committed to fostering the growth of small and medium-sized enterprises into industry leaders. Currently, the firm manages assets totaling approximately RMB 20 billion.
About Cowin Capital
Cowin Capital was established in June 2000 as one of China’s first professional private equity investment firms. With 21 years of investment management experience, the firm has successfully invested in more than 500 companies and facilitated the domestic and overseas listings of nearly 100 enterprises. As a key focus area, its healthcare investments have covered over 100 companies, helping 18 of them achieve domestic and overseas listings.
Beijing Qihang Investment Management Co., Ltd. (hereinafter referred to as “Qihang Investment”) is a specialized, market-oriented investment platform meticulously established by Zhongguancun Development Group. Currently, Qihang Investment manages four funds. Leveraging the resource advantages of Zhongguancun Development Group and its outstanding investment management team, the firm focuses on investing in projects that facilitate the commercialization of cutting-edge, disruptive, and innovative technological achievements in the fields of next-generation information technology, biopharmaceuticals, and intelligent manufacturing. It is committed to becoming a renowned institution in the field of sci-tech innovation investment within the Zhongguancun National Innovation Demonstration Zone and across China. Representative investment cases of the Qihang team in the biopharmaceutical sector include BeiGene, InnoCare Pharma, Yahong Medicine, Allgens Med, and Tinavi Medical Technologies.
Founded in 2012, Fangfu Capital currently manages over ten funds with assets under management nearing RMB 10 billion. Guided by a research-driven approach and adhering to value investing principles, the firm primarily focuses on the healthcare industry and advanced manufacturing. To date, it has invested in more than 30 projects, many of which have grown into well-known industry leaders.
IMMUNE CELL, built by an internationally renowned team of experts, specializes in the development and manufacturing of clinical-grade viral vectors. Its service portfolio encompasses GMP-grade plasmids, adenoviruses, lentiviruses, adeno-associated viruses (AAV), CAR-T products, and Investigational New Drug (IND) application materials. The company comprehensively meets customer needs for early-stage drug development, clinical trials, and large-scale commercial production, providing one-stop CDMO solutions for cell and gene therapy developers. Since 2019, the company has undertaken and delivered over 60 batches of IND and Investigator-Initiated Trial (IIT) products in China, establishing a differentiated competitive advantage in the AAV field and the broader industry.