JW Therapeutics Completes $90 Million Series A Financing Led by Temasek, Sequoia Capital China, and Yuanming Capital

VCBeat (WeChat ID: vcbeat) has learned that on March 8, 2018, JW Therapeutics (Shanghai) Co., Ltd. (“JW Therapeutics”) announced the completion of a $90 million Series A financing round.

This round of investment was led by internationally renowned investment firms Temasek, HongShan (formerly Sequoia Capital China), and Yuanming Capital. Other investors included Yuanhe Yuandian, Yipu Capital, and AVIC Capital, as well as existing shareholders such as WuXi AppTec Group and Juno Therapeutics.

JW Therapeutics is a clinical-stage innovative biotechnology company focused on the field of cutting-edge cell therapy technologies, jointly established in 2016 by WuXi AppTec Group and Juno Therapeutics.

WuXi AppTec is an internationally leading open-access capabilities and technology platform company, providing comprehensive, integrated laboratory R&D and manufacturing services—from drug discovery and development to commercialization—for the global pharmaceutical and medical device industries. Juno Therapeutics is a global leader in CAR-T therapy.

Juno Therapeutics is now a wholly owned subsidiary of Celgene, aggregating technological achievements from the world’s leading research institutions, including the Fred Hutchinson Cancer Center, Memorial Sloan Kettering Cancer Center, Seattle Children’s Research Institute, the University of California, San Francisco, and the National Cancer Institute.

Leveraging Juno Therapeutics’ internationally leading technology platform, combined with WuXi AppTec Group’s extensive local market experience, world-class R&D and manufacturing capabilities, and broad business collaboration network, JW Therapeutics has successfully introduced Juno Therapeutics’ products and technology platforms into China. Its leading CAR-T product, JWCAR029 (targeting CD19 for the treatment of relapsed or refractory lymphoma and leukemia), has successfully filed an Investigational New Drug (IND) application with the China Food and Drug Administration (CFDA) and entered clinical trials.

Currently, JW Therapeutics has established a clinical GMP manufacturing facility that complies with international standards and quality systems, and has assembled a leading team with extensive experience in the biopharmaceutical industry.

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Li Yiping, Co-founder and CEO of JW Therapeutics, stated that the company will leverage this round of financing to continue advancing the clinical trials of its JWCAR029 product, expand its R&D pipeline, and establish a new industrial-scale manufacturing facility. This financing will accelerate the market entry of candidate drugs in the development pipeline, addressing the substantial unmet clinical needs of patients in China and providing Chinese patients with more effective treatment options.

Dr. Ge Li, Chairman of JW Therapeutics and Chairman of WuXi AppTec Group, stated, “We are delighted that this financing has successfully attracted world-class investment institutions to join hands in supporting the development of JW Therapeutics.”

Mr. Hans Bishop, CEO of Juno Therapeutics, stated, “Through our collective efforts, we aim to help cancer patients worldwide achieve a better quality of life and longer survival. We firmly believe that CAR-T cell therapy holds such potential. We also hope that this round of financing will accelerate the introduction of CAR-T therapy to China, thereby benefiting Chinese patients.”

Mr. Neil Shen, Global Executive Partner of Sequoia Capital, stated, “Sequoia Capital China has always placed significant emphasis on technological innovation and industry development in the healthcare sector. CAR-T cell therapy represents one of the key directions for breakthrough medical technologies. By partnering with JW Therapeutics, a leading domestic enterprise in this field, we aim to help more patients regain their health and contribute to the advancement of China’s life sciences industry.”

Dr. Tian Yuan, Founding Partner of Yuanming Capital, stated, “We are highly optimistic about JW Therapeutics’ significant growth potential in the field of cell therapy. We look forward to continuing to support the company’s development through our life sciences investment ecosystem.”