Simnova Secures Nearly RMB 400 Million Series B Financing to Advance CAR-NK and In Vivo CAR-T Pipelines

VCBeat has learned that Simnova announced today the completion of its Series B financing round, raising nearly RMB 400 million. The round was co-led by Fortera Capital, Cenova Capital, and PDVC, with participation from Zhangkeherun and Oriza Holdings, and additional investment from existing shareholder Youshan Capital. The proceeds will be primarily used to accelerate the confirmatory clinical studies of SNC103, the core pipeline of its universal CAR-NK platform, and to advance the registrational clinical development of SNC116, its in vivo CAR-T platform.

Simnova, established in 2019 and incubated by Simcere Pharmaceutical, began independent operations in 2021. The company focuses on three major technology platforms: universal CAR-NK, CAR-T, and multi-targeted solid tumor CAR-T therapies. Its core pipeline candidate, SNC103 (a universal CD19-targeting CAR-NK), has achieved positive results in Phase I clinical trials for moderate-to-severe systemic lupus erythematosus (SLE), demonstrating a 100% SRI-4 response rate and showcasing best-in-class (BIC) potential.

The product has achieved breakthroughs across the entire manufacturing process, with CAR transduction efficiency, expansion capacity, and post-cryopreservation viability all ranking at the industry-leading level. Production costs have been optimized to match those of conventional biologics. The company plans to initiate pivotal confirmatory clinical trials in 2027, positioning it to potentially become the first globally approved off-the-shelf CAR-NK product.

In the field of in vivo CAR-T therapy, the self-developed product SNC116 (lentiviral vector) has initiated clinical studies at the Cancer Hospital of the Chinese Academy of Medical Sciences. Early data demonstrate its potential to be best-in-class (BIC) in terms of efficacy, durability, safety, and specificity of in vivo targeted delivery. Furthermore, the company previously collaborated with US-based ORNA Therapeutics (later acquired by Eli Lilly) to deploy lipid nanoparticle (LNP) delivery and circular RNA technologies, further solidifying its technological moat in the field of in vivo cell therapy.

Dr. Cao Zhuoxiao, CEO of Simnova, stated, “From universal CAR-NK to the clinical validation of in vivo CAR-T, our team has remained focused on pioneering original technologies, dedicated to addressing core challenges in cell therapy, including universality, safety, and clinical efficacy. Moving forward, we will accelerate the clinical development of our core pipeline and propel China’s original cell therapy technologies onto the global stage.”

Fortera Capital stated, “Autoimmune diseases are emerging as the most promising frontier for cell therapy, with the key barriers lying in off-the-shelf availability and cost control. Simnova’s SNC103 has reduced production costs to the level of conventional biologics while maintaining a 100% SRI-4 response rate. Meanwhile, the company’s investments in in vivo CAR-T balance near-term certainty with long-term platform value.”

Cenova Capital stated, “Cell therapy is evolving from first-generation autologous CAR-T toward universal and in vivo editing approaches. Simnova has demonstrated industry-leading technical capabilities and execution strength in both CAR-NK and in vivo CAR platforms. We are optimistic about the company’s platform value in the era of Cell Therapy 2.0.”

PDVC stated, “Regardless of industry cycle fluctuations, Simnova has consistently demonstrated strong resilience in deeply cultivating the cell therapy sector, achieving significant milestone breakthroughs across multiple fields. PDVC will fully leverage its resources as a state-owned venture capital firm to comprehensively empower the company’s industrialization and international development.”

Youshan Capital stated, “As one of the earliest investors, we have continuously witnessed Simnova’s ability to translate cutting-edge science into a clinical pipeline with differentiated advantages. We will continue to support the company in securing a global leadership position in the field of cell therapy.”

Simnova is dedicated to innovating next-generation cell therapies, with a globally competitive product pipeline across three major platforms: universal CAR-NK, multi-targeted solid tumor CAR-T, and in vivo CAR. The company is committed to delivering safer, more accessible, and more effective cell therapy products to patients worldwide.

Currently, the cell therapy industry is undergoing rapid iteration, evolving from autologous CAR-T toward universal, off-the-shelf, and in vivo editing technologies. Next-generation technologies aim to break the "one patient, one dose" barrier, driving the evolution of cell therapies into standardized pharmaceutical products. Among these, in vivo CAR-T has become a global focal point for industry investment and strategic deployment due to its advantages as an "off-the-shelf" therapy, including the elimination of lymphodepletion requirements, sustained expansion, and lower costs.

Data from the first quarter of 2026 shows that more than 120 companies worldwide are engaged in the research and development of in vivo CAR-T therapies, with over 60 of them being Chinese enterprises. China holds the largest share of global Phase I/II clinical pipelines (12.3%) and the second-largest share of preclinical pipelines (22.7%).

Since 2025, the field has seen more than 10 major transactions, with total investments by multinational pharmaceutical companies exceeding $10 billion. This marks the transition of in vivo CAR-T from early proof-of-concept to an industrial competitive phase, including: Eli Lilly's $2.4 billion acquisition of Orna and its $7 billion acquisition of Kelonia; AbbVie's $2.1 billion acquisition of Capstan; BMS's $1.5 billion acquisition of Orbital; AstraZeneca's $1 billion acquisition of EsoBiotec; Gilead’s Kite reaching a potential $1.64 billion collaboration with PuRuiJin; and Johnson & Johnson securing exclusive options to acquire Sail Biomedicines for $2.58 billion, with an upfront payment of $785 million.

Dozens of domestic companies in this field are mostly in the preclinical or early exploratory stages, with relevant clinical data gradually emerging, positioning them as key "validators" in China’s competitive landscape. Enterprises possessing differentiated clinical data and scalable manufacturing capabilities will see their clinical and process development progress influence subsequent capital allocation trends. Over the next 1–2 years, initial clinical data from multiple pipelines will be released concurrently, directly impacting the reallocation of capital, resources, and even industry pricing power within the in vivo CAR-T sector.