CARsgen Therapeutics Holdings Limited(" Kochi Bio "), one of the world leaders in the development of CAR T-cell drugs, today announced the completion of a $186 million Series C funding round, including a $30 million fully-funded stock option. This round was led by Loyal Valley Capital, with other investors including Eli Lilly Asia Fund, Shanyu Capital, Xia Yan Capital, and existing shareholder Zhongnan Venture Capital continuing to participate in the round.
"We are very pleased to receive financial support from a number of well-known professional investment institutions, which will greatly assist our ongoing clinical trials of several new drugs in China and the United States," said Dr. Zonghai Li, founder, Chairman, CEO and Chief Scientist of Koji Biology. "It will also greatly advance our international presence, including in Europe. Bring the product to market as soon as possible to benefit cancer patients worldwide."
Mr. Xie Ronggang, Partner of Zhengxin Valley Capital, said, "We are very honored to lead the financing round of Kochi Bio. Zhengxin Valley Capital focuses on supporting entrepreneurs who pursue excellence and build world-class outstanding enterprises through long-term and continuous efforts. Under the leadership of Dr. Zonghai Li, Coji Bio-based on independent innovation, has built a globally competitive pipeline of both First-in-Class and Best-in-Class products. We believe that through this round of financing, Koji Biotics will accelerate clinical research and development, achieve early market launch of the product, and hopefully change the standard of treatment in the disease field. We look forward to sharing our experience and resources with Kochi Bio in the coming years to support Kochi Bio's global R&D and industrial footprint."
According to public information, Keji Biopharmaceuticals (Shanghai) Co., Ltd. is a global leader in the development of CAR T cell drugs. It has obtained the first registered clinical approval of GPC3-targeted CAR T cells for GPC3-positive solid tumors in China, the first clinical approval of CLDN18.2 CAR T cell drug clinical trials, and two clinical approval of hematoma CAR T cell drugs targeting BCMA and CD19 respectively. In addition, CARsgen Therapeutics Corporation, a U.S. company owned by Koji Biotics, has registered BCMA-targeted CAR T cells that have received Advanced Therapies for Regenerative Medicine (RMAT) and Orphan Drug designation from the U.S. Food and Drug Administration (FDA). It has been included into the Priority Drugs (PRIME) Program by the European Medicines Agency (EMA) and given "orphan drug" approval opinions; Claudin18.2-targeted CAR T cells have been approved for clinical trials by the US FDA for the first CAR T cell drug of the same target, and received "orphan drug" status.
About Zhengxin Valley Capital
Founded in 2015, Zhengxingu Capital always adheres to the investment values of "long-term, focused and altruistic", and is committed to establishing the best investment research team and post-investment management team in China. Through in-depth industrial research and post-investment initiative empowerment, Zhengxingu Capital is committed to creating a great enterprise representing the future growth direction of China's economy and creating value for the society together with excellent entrepreneurs. Since its establishment, Zhengxin Valley has invested in a series of outstanding enterprises representing the future development direction of the Chinese economy, including Junshi Bio, Nuocheng Jianhua, Kangfang Bio, Fuhong Hanlin, Bilibili, Bytedance, Paomart, NetEase Cloud Music, Zhongcon Technology, 800 million Time, Pengding Holdings, etc.
