GenoImmune, a China-based immunotherapy developer spun off by genetic testing services provider BGI Group, has raised RMB120m ($17.9m) in series A funding, according to a WeChat post from the company.
The round was led by GF Xinde Investment Management, a private equity affiliate of brokerage firm GF Securities. Huada Gene currently holds a 71.6% stake in the company according to China Money Network, which cited information from data provider Tianyancha.
Founded in 2011, GenoImmune is developing immunotherapies that are designed to reprogram the body’s immune system in order to treat infectious cancerous tumours.
The company’s Neoantigen-based T-cell Therapy (Neo-T) technology extracts tumour-specific antigens, a substance produced in tumour cells that triggers an immune response in the patient. The funding will support clinical research and the registration of Neo-T.