Eyeing commercialization, a Shanghai-based CAR-T startup nabs a $186M megaround
Three years after its last financing and with six programs now in the clinic, Shanghai-based CARsgen therapeutics has raised $186 million to push forward a broad platform of CAR-T therapies for liquid and solid tumors.
The Series C mega-round drew from both marquee and lesser-known regional investors, with the well-heeled Chinese private equity firm Loyal Valley Capital leading the raise and Lilly Asia Ventures, Shiyu Capital, and Summer Capital chipping in. The company will use that cash in part to transition, advancing trials on three continents and laying the basis for an eventual commercial launch, founder and CEO Zonghai Li said in a statement.
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