China's CARsgen Therapeutics gets $30M in VC cash for CAR-T push

Shanghai-based CAR-T play CARsgen Therapeutics raised $30 million in venture fund Series B round cash as it gets set to finish Phase I trials in China by the end of the year on candidates CSG-GPC3 to treat hepatocellular carcinoma and CSG-EGFR to treat malignant glioblastoma. The round was led by South Korea-based KTB Ventures and China's Jolly Innovation Ventures, which is backed by Jolly Pharma, with money chipped in by Kaitai Capital and JIC Genesis Fountain Healthcare Ventures, according to a press release. In October last year, CARsgen signed a 5-year partnership agreement with the Shanghai Cancer Institute to develop chimeric antigen receptor T-cell (CAR-T) immunotherapeutics in China. The company started the China trials in March last year and raised a bit more than $10 million of venture cash in 2014. Release

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