Grit Biotechnology, a Shanghai, China-based cell therapy company, raised $60M in Series B funding.
The round was led by CICC with participation from Qianhai Ark, Liando Group, Yuanhe Capital, HeFangTian Venture Partnership and existing investors Sherpa Healthcare Partners, Decheng Capital and Matrix Partners China.
The company intends to use the funds to support its Tumor-Infiltrating Lymphocyte (TIL) pipeline development, including the pivotal Phase II trial for GT101 and the advancement of gene-edited TIL products.
Founded in 2019, Grit Biotechnology is a cell therapy company focused on delivering transformative cancer treatments. GT101 is currently the fastest-developing TIL therapy in China and will enter a Phase II trial by the end of 2023. The company has four core technology platforms central to its TIL development: StemTexp®, StaViral®, KOReTIL® and ImmuT Finder®, a genome-wide CRISPR/Cas9 screening platform.
GT201, a genetically engineered TIL product by Grit Biotechnology, boosts T cell survival and function by expressing a vital membrane-bound cytokine. It surpasses traditional TIL therapies in proliferation, tumor-killing and persistence with reduced reliance on IL-2. GT201 IND is approved by CFDA and entered Phase I clinical trials.
GT316, its TIL product, enhances TIL performance through knock-out of immunoregulatory targets identified via ImmuT Finder® CRISPR/Cas9 screening. In PDX mouse models, GT316 effectively eliminates tumors supported by low-dose IL-2 support with minimal toxicity. It offers substantial clinical benefits compared to conventional TIL products and is currently in IIT clinical trials in China.
FinSMEs
08/09/2023