Chinese cell therapy biotech developing TIL therapies raises $60M Series B
Grit Biotechnology said Friday that it closed a Series B, raising more than $60 million from several Chinese investors.
The financing came from several new investors, including Qianhai Ark, Liando Group, Yuanhe Capital and HeFangTian Venture Partnership, in addition to previous investors: Sherpa Healthcare Partners, Decheng Capital and Matrix Partners China.
Shanghai-based Grit said the funding would go toward developing its pipeline, including advancing its tumor-infiltrating lymphocyte (TIL) candidates and supporting a planned pivotal Phase II in China for its lead candidate, GT101. That therapy is currently being tested in melanoma and cervical and lung cancer.
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