China-based immunotherapy developer Juventas has raised RMB450m ($68.4m) in a funding round led by private equity fund CMG-SDIC Capital and backed by commercial property developer Parkland Group, DealStreetAsia reported yesterday.
The round included Kaixin Biotechnology – possibly part of automotive retailer Kaixin Auto – Tzitzit Asset, Tianjin Venture Capital, Ruisheng Investment, Xiangrong Capital, Dalton Venture and Jiadao Fanghua Investment, while Parkland took part through its Daxie Pengchuang Investment vehicle.
Juventas is developing cellular immuno-oncology therapies for acute lymphatic leukaemia and haematologic tumours. It recently began a phase 2 registration study for its lead drug candidate, CNCT19 for relapsed or refractory B-cell non-Hodgkin lymphoma (B-NHL).
CNCT19 is also in a phase 1 clinical trial for relapsed or refractory acute lymphoblastic leukaemia, with a phase 2 study expected to begin by the end of this year.
Pharmaceutical company Casi Pharmaceuticals led a $14.5m series A-plus round in July 2019 that also featured Dalton Venture and Panacea Venture, following $23.7m in series A funding from Redhill Capital and Dalton Venture in late 2018.
Wei-Wu He, chairman and CEO of Casi, said in a statement this week: “Its financing provides Juventas with resources to continue moving CNCT19 through registration, and we remain excited about its potential as a first-line treatment for B-NHL.
“In addition, as a large (16%) shareholder of Juventas, we are pleased to see Juventas’ progress in their overall pipeline and expect its financing to help accelerate its development.”
