On February 28, 2023, Oricell Therapeutics Co., Ltd, a China-based innovative pharmaceutical company committed to the development of tumor cellular immunotherapeutics, announced the close of a $45 million Series B1 investment round after the completion of a $125 million Series B fundraise in July 2022. The round was led by premier global industry investors RTW Investments, LP and Qatar Investment Authority, with participation from existing investors, including Qiming Venture Partners and C&D Emerging Industry Equity Investment. The new injection of capital will be utilized primarily to support the company's core product clinical development in the U.S. With this new funding, the company is now well-positioned to expand its products to the U.S., specifically OriCAR-017, a GPRC5D CAR-T therapeutic that treats relapsed and refractory multiple myeloma, which is a product currently on the stage of IND enabling both in the U.S. and China.
Wilson Sonsini Goodrich & Rosati represented RTW Investments in the transaction. The team includes:
Corporate
Jennifer Fang
Jie Zhu
Xuchao Dong
TJ Tingjie Li
Yiwen Feng
For more information, please see Oricell's press release.