The company completed round C of $100 million in financing

October 29th, the company announced that it had completed the C-round of financing to raise $100 million. The round of financing is led by Wellington Management Company, Orbi Med and Morningside Ventures, and new investors in the round also include Vivo Capital. Existing investors Temasek Holdings, Lilly Asia Ventures, OrbiMed and King Star Med LP are also involved.Founded in 2017, the company aims to overcome the technical challenges that the industry faces in both introphy and allogeneic CAR-T cell products. Company scientists have developed cutting-edge FasTCAR and TruUCAR technology platforms. In addition, because of its clinical use without bridding bone marrow stem cell transplants, the company based on the TruUCAR platform developed "ready-to-use" allogeneic CAR-T cell products, will be less costly and more convenient to serve the vast number of patients.Using its own FasTCAR and TruUCAR platform technologies, Esther Bio is developing a range of candidates for the treatment of both innard and allogeneic allogeneic cells for the treatment of blood tumors and solid tumors. Currently, the company is conducting two Phase I clinical trials initiated by researchers, including the GC012F self-cell candidate developed under the FasTCAR platform for the treatment of recurring or refractic multiple myeloma (r/r MM), and the GC027 isomorphosis product developed under the TruUCAR platform for the treatment of recurring or refractic T-cell acute lymphoblastic leukemia (r/r-ALL).In addition, the first candidate product of the bio, GC007g from healthy provider T-cells for the treatment of B-cell acute lymphoblastic leukemia (B-ALL), has entered the Phase I clinical trial of the new IND drug in China.The funds raised in this round will be used to accelerate the development of candidate products for the clinical phase to the next stage and to further develop preclinical candidate products.
(AGENCY)