In Vivo CAR-T Sector Surges with Strategic Collaborations, Blockbuster Acquisitions, and 100% ORR Clinical Data

June 19,According to official disclosures by CellOrigin, it has formally signed a project cooperation and development agreement with Walvax., both parties will integrate technological and industrial resources,Focusing on the mRNA-LNP Technology Platform for In Vivo Applications(In vivo)CAR Therapy, jointly advancing investigator-initiated trials (IITs) for solid tumors in liver cancer.

This is no longer an isolated case in the industry; in the same month, WestGene entered into a strategic collaboration and licensing agreement with Cartesian to jointly develop mRNA-based therapies and targeted lipid nanoparticles.（tLNP）In Vivo CAR-T and T Cell Engager Technologies（TCE）Therapies for the treatment of autoimmune diseases; T-CURX announces the successful acquisition of Pantherna Therapeutics, leveraging its mRNA/LNP delivery technology to advance the development of in vivo CAR-T therapies; South Korea’s GC Biopharma and AbClon announce a collaboration to develop in vivo CAR-T therapies, based on AbClon’s h1218 antibody and GC’s mRNA-LNP delivery technology.

Following its surge in popularity, in vivo CAR/in vivo CAR-T therapy is rapidly transitioning from “concept” to “reality,” and is increasingly becoming one of the mainstream trends in the future development of cell therapies.

Taking in vivo CAR-T as an example, over the past year or so, MNCs have shifted their strategic approach to this field from “observation” to “aggressive acquisition.”

Since 2024, multinational corporations (MNCs) such as AstraZeneca, BMS, AbbVie, Gilead, and Johnson & Johnson have intensively entered the in vivo CAR-T space through mergers and acquisitions and collaborations, with LNP and lentiviral vector delivery technologies advancing side by side. By April 2026, Eli Lilly had committed a total amount of up to $7 billion(including $3.25 billion in upfront and milestone payments)The acquisition of in vivo CAR-T company Kelonia Therapeutics has set a new record for M&A in the in vivo CAR-T field, highlighting the "high-value potential" of this sector to the industry.

MNCs’ Acquisitions in the In Vivo CAR-T Space Are Not “Testing the Waters,” but a Collective “Heavy Bet”。

M&A(Mergers and Acquisitions)the heat has spread to the primary market, with financing in the in vivo CAR-T sector also being intensive. According to incomplete statistics,In 2025, there were 11 in vivo CAR-T financing deals in China, with disclosed amounts exceeding RMB 600 million.. In the first half of this year, financing enthusiasm in the in vivo CAR-T field remained undiminished, for example:

• In May, Zhenyu Bio announced the completion of a financing round nearing RMB 100 million. The company has established two core platform technologies—in vivo CAR-T and therapeutic vaccines with novel druggable formats—to tackle key challenges in the application of conventional cell therapies.

• In April, Weitao Bio announced the completion of its Series A and Series A+ financing rounds, totaling over USD 50 million. Its core pipeline candidate, GT801, has already demonstrated potential in investigator-initiated trials (IIT).

• In April, Yuanqi Bio announced the completion of a cumulative $110 million Pre-IPO financing round. The company’s full-platform technology system is continuously incubating multiple CAR-T projects, including in vivo CAR-T.

In addition, Tianyikang Pharma, Yimufeng Bio, and Laimang Bio have all attracted investor interest. It is evident that the timeline for domestic financing events is highly concentrated between 2025 and the first half of 2026—the primary market is collectively “adding to its positions” in in vivo CAR-T.

The “frenzy” of capital reflects high expectations for the future value of in vivo CAR-T, and the pioneering companies in this sector have lived up to expectations by delivering impressive clinical results.Signifying that in vivo CAR-T is gradually entering the critical phase of "clinical validation"。

Abroad, the data recently released by Kelonia, a leading company in in vivo CAR-T therapy, is undoubtedly noteworthy. The latest data from the Phase I inMMyCAR study of its BCMA in vivo CAR-T therapy KLN-1010 shows that among 18 evaluable patients with relapsed/refractory multiple myeloma (R/R MM) who received dosing,Overall Response Rate（ORR）Reached 100%, all achieved minimal residual disease in the bone marrow（MRD）Negative. Among them,The First Patient Treated Achieved Sustained Deep MRD-Negative Remission for Over 10 Months; among 6 patients with follow-up ≥4 months, 4 achieved strict complete remission（sCR）, 2 cases achieved a very good partial response（VGPR）, all patients remained bone marrow MRD-negative. The overall safety profile was favorable, and the Safety Review Committee has approved the outpatient infusion regimen.

In China, Legend Biotech disclosed in June the Phase I clinical study data for its potential "first-in-class" in vivo CD19/CD20 dual-target CAR-T therapy, LB2501: twelve patients with relapsed/refractory B-cell non-Hodgkin lymphoma (R/R B-NHL) were equally divided into two dose groups. A single infusion of LB2501 achieved dose-dependent expansion of in vivo CAR-T cells without the need for lymphodepletion.At Higher Dose Levels（DL2）below, LB2501 reached 100%（6/6）ORR of 83.3%（5/6）Complete Response Rate（CR）。

These two recent high-profile clinical datasets jointly validate the core premise of in vivo CAR-T therapy—the technical vision of “no apheresis, no ex vivo culture, no lymphodepletion, no weeks-long wait, and lower costs” is becoming a reality, with efficacy and safety profiles “comparable” to those of ex vivo approaches. Against the backdrop of continuous expansion of CAR-T indications within the industry, the potential for in vivo CAR-T is substantial.

As technical pathways are validated, clinical trials accelerate, and sustained capital infusion creates synergistic momentum, the ensuing competition will no longer revolve around the feasibility of in vivo CAR-T therapy, but will instead shift toward “who can secure first-mover advantage” and “who can develop products with superior efficacy and safety.” The winners of this round of competition will define the next chapter of cell therapy.

Responsible Editor | Xun

Proofreader | Xun

References:

1. Corporate Website

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