Origincell Medical Snares $11.4M in Series A Funding Round

According to PEdaily.cn, Origincell Medical has completed ¥80 million (US$11.4 million) Series A round of financing, led by Qiming Venture Partners. Proceeds of this financing will be used to support the development of novel CAR-T (Chimeric Antigen Receptor T-Cell Immunotherapy) technology and cellular immunotherapy products such as monoclonal antibodies and bi-specific antibody drugs.

Founded in 2015, Origincell Medical is a wholly-owned subsidiary of Origincell Group, focusing on the innovative drugs of tumor immunotherapy. In response to the clinical demand for tumor cell immunotherapy, the company has built mature technology platforms for tumor cell therapy and cellular therapy product development based on large capacity and diversity. Origincell Medical has independently produced a series of monoclonal antibody and double antibody products with superior performance in treatments.

The preclinical studies of OriBs-1, a kind of bispecific antibody developed by Origincell Medical, show its good efficacy, safety, and pharmacokinetics. This project has been supported by the "973 plan" of the Ministry of Science and Technology of China and is under commercialization.

At present, the 1300 sqm cell preparation center of Origincell Medical in Shanghai has been put into use, in compliance with the GMP standard. With the help of the cell preparation and quality inspection center, as well as the cell therapy clinical research platform built with several third-class hospitals, other products of Origincell Medical in research will gradually enter the clinical stage.

Founded in 2006, Qiming Venture Partners is a leading China venture capital firm with offices in Shanghai, Beijing, Suzhou, Shenzhen, Hong Kong, Seattle, Boston, and San Francisco Bay Area. Currently, Qiming Venture Partners manages seven US Dollar funds and five RMB funds with over US$4 billion assets under management. Qiming Venture Partners invests in information technology, new consumer business patterns, and the healthcare sector.