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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