RootPath, a US-based cancer immunotherapy developer backed by internet company Baidu, has raked in $50m in a series B round.
Private equity firm CDH Investments and venture capital firm Sky9 Capital co-led the round, which was filled out by Matrix Partners China and Hony Capital. The round brings the company’s total funding to $68m.
Founded in 2017 out of biotech incubator Nest.Bio, RootPath develops personalised therapies designed to harness the immune system’s T-cells to target solid tumours through its synthetic immunology platform.
The funding will go towards financing the development and commercialisation of its pipeline, and the construction of facilities needed for investigator initiated trials and phase 1 trials.
RootPath raised $11m in a series A round in January 2020 led by Oriza Seed and featuring Baidu’s corporate venturing arm Baidu Ventures, Sequoia Capital, Volcanics Venture and Nest.Bio Ventures, the VC arm of Nest.Bio.
Sequoia Capital a $7m seed round in 2018, which saw participation from Baidu Ventures, Volcanics Venture and Nest.Bio Ventures.
