Iaso Biotherapeutics Bags $60M in Series B Round of Financing

Iaso Biotherapeutics secures $60M funding for the expansion of its product pipeline 

FREMONT, CA: Iaso Biotherapeutics, a leading Nanjing, China-based clinical-stage biotechnology company, secures funding worth $60 million from its Series B round of Financing. GL Ventures led the Series B round. 

The clinical-stage biotechnology company focuses the fund utilization mainly on the expansion of its product pipeline and enhancing the progress rate of the current projects ( including the regulatory applications and clinical trials in China and the US). It also aims further to advance the technology of a fully-human antibody development platform, encourage co-operations with international research and development institutions, and accelerate the development of commercial facilities. 

From its inception in 2017, Iaso Biotherapeutics has been a clinical-stage biotechnology company that was dedicated wholly to the development of innovative cell therapies to cure cancer. The company is simultaneously developing more than ten pipeline products, focusing more on autologous and universal CAR-T products for hematological tumors. All products of the company are based on the fully human sequence. Additional development efforts comprise of unique TCR-like CAR-T cell therapy products for solid tumor indications such as viral infection related gastric cancer and nasopharyngeal carcinoma. 

Iaso Bio also owns a proprietary phage display library(>2×1011) that supports the demand for fully-human antibodies necessary for CAR-T and lays the foundational for the development of antibody-drug pipelines as well. The company's in-house plasmid, lentivirus, and CAR-T production technology platforms fulfill the requirements of IND submissions and clinical research for numerous products. In 2019, September, the company obtained the NMPA approval of phase lb/II IND application for CT103A, an anti-BCMA CAR-T co-developed in association with Innovent Biologics for treating the relapsed refractory multiple myeloma (rr/mm). Additionally, many new drug candidates have entered the pre-clinical stage or are involved in investigator-initiated clinical trials with various drugs expected to enter clinical trials in the next few years. 

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