Shanghai-based clinical-stage biopharmaceutical company- JW Therapeutics has raised US$100 million in a series B round financing co-led by CPE and Mirae Asset. The total funding amount of the company stands at US$200M.
Mirae Assets is one of the key players in the Asian financial market, headquartered in Seoul, South Korea and CPE – a Chinese investment company is a leading alternative asset manager, with asset classes ranging over private equity, the public market and mezzanine.
CR-CP Life Science Fund and Oriza Holdings, as well as existing investors including Loyal Valley Capital, Sequoia Capital China, Temasek, ARCH Venture Partners, WuXi AppTec and Juno Therapeutics joined the round.
JW Therapeutics is a joint-venture company established by Seattle-based Juno Therapeutics, a leading cell-based cancer immunotherapy company, and Shanghai-based WuXi AppTec, a leading pharmaceutical, biotechnology, and medical device R&D platform company, hence the name JW. Co-Founded by James Li in September 2016, JW Therapeutics is a developer of cell-based therapy technologies produced to revolutionize cancer treatment. The company focuses on the development and transformation of cell-based immunotherapies that uses chimeric antigen receptor and T-cell receptor technologies to regulate the body’s immune system, helping doctors to save the lives of cancer patients.
The company has also obtained the first approval for the clinical trials of CAR-T product targeting CD19 with the largest number of patient enrolment under IND pathway. The proceeds from the financing will be used to further advance its lead product JWCAR029 (CAR-T cell product targeting CD19 in clinical phase II), build-out a pipeline, and to establish commercialization capabilities to support product launch.
James Li commented, “We are very pleased to welcome our new investors and by working together, we hope to accelerate our product development and serve Chinese patients.”