The cumulative total financing exceeds 7 billion yuan Domestic cell immunotherapy enterprises full map.

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cell immunotherapy has been widely sought after by capital in recent years, and Nanjing Legendary Bio was successfully listed on NASDAQ on June 5. Since Rosenberg first proposed genetically engineered T-cell technology in 1986, cell immunotherapy products have undergone more than 30 years of development, CAR-T, TCR-T, TIL, CAR-NK, NK, DC and other cell therapy.
arterial network inventory of 80 domestic cell immunotherapy enterprises, from the investment and financing point of view to analyze the current situation of the industry financing. As of April 2020, a total of 95 financing events occurred in domestic cell therapy enterprises, with a total financing amount of 7.35 billion yuan. On June 5, Nanjing Legendary Bio, the first CAR-T company in China, was also successfully listed on NASDAQ.as an important part of immune therapy

cell immunotherapy, cell immunotherapy usually refers to the purpose of tumor therapy by entering immunocellular preparations into the body to activate or enhance the body's specific immune response. Compared with traditional treatment methods such as surgery and chemotherapy, cell immunotherapy has shown good efficacy and safety in some of the more difficult cancer cases, and can inhibit tumor recurrence and metastasis.
after decades of development, cell immunotherapy has evolved from relatively simple culture, amplification, back-transmission of DCs, NK, CIK, DC-CIK and other cell therapies to more complex car-T, TCR-T and other genetically engineered modified cell therapy. The efficacy of different types of therapies in different types of tumors and in the field of immunity varies.
some cell immunotherapy introductions . Looking at the financing history of domestic cell therapy enterprises, we find that the financing in the field of cell therapy started around 2014, only 2 financing events in 2014 and before, and the number of financing events and financing amount increased steadily between 2014 and 2017, and the amount of financing for domestic cell therapy enterprises has increased sharply since 2018. In 2018, the financing volume of domestic cell therapy enterprises increased by 706.8 percent year-on-year.
the total financing and number of events in China from 2014 to 2019 . We believe there are several reasons for the sharp increase in total financing in 2018:
1 and 2017, the FDA approved two cell immunotherapy drugs, Kymriah developed by Novartis and Yescarta, developed by Gilead's Kite. The commercialization of cell immunotherapy has been validated for the first time.
2. Since 2015, the number of cell therapy enterprises has increased dramatically, with the number of enterprises established in 2017 and before accounting for 93.2% of the total number of cell immunotherapy enterprises. Yimei Shenzhou, Xiang Xue Life Sciences, Pharmaceutical Ming Juno and other cell therapy enterprises are mostly established in 2015, after several years of development, some enterprises have been improved in research and development technology platform, and access to clinical trial approvals and other stage results, access to large-scale financing.
the establishment of cell immunotherapy enterprises time distribution
3, since 2016, the former State Food and Drug Administration, the Health and Care Commission and other institutions have issued a number of regulatory policies in the field of cell therapy, especially in December 2017, NMPA issued the "cell therapy product research and evaluation technical guidelines (trial)," the guiding principle scar-T enterprises clear the path of research and development declaration. Technology access threshold and industry management norms, will become the rapid development of the domestic cell therapy industry "accelerator."
the average financing amount of cell immunotherapy and the distribution of events in 2014-2019
from the amount of single financing in different years, the average project financing amount in 2014-2020 showed an upward trend, except for the slight decrease in the average project financing amount in 2016, the amount of single financing from 2014 onwards increased significantly, the financing event in 2019 was basically the same as the 2018 financing event, and the total financing volume reached the highest level in 2019.
the distribution of the number and amount of domestic financing projects
from the distribution of the amount of financing, in the 34 enterprises that have disclosed the amount of financing, 42% of the cumulative financing amount of more than 100 million yuan, financing more than 500 million yuan of enterprises have 5, respectively, Shanghai cell therapy, Nanjing legendary biology, Yixi biology, medicine Ming Juno, Jikai gene.
the top five cell therapy companies in total financing . Shanghai Cell Therapy Group was established in November 2013, the scope of business including cell therapy, cell freezing, genetic testing, medical big data, etc., is committed to the establishment of production and treatment as well as research and development as one of the international cell therapy center. The company is the first non-viral vector - PB transposon to carry out CAR-T clinical trials of enterprises. In December 2018, Shanghai Cell Therapeutics completed 925 million yuan C round of financing, Taibao Life, Haier Capital and Henyep Capital Co-led investment, Anting Industrial, Junlian Capital and so on.
Nanjing Legendary Bio is a listed company of Kingsley's CAR-T tumor cell immunotherapy research and development company, its CAR-T product is China's first CAR-T drug clinical trial application (IND) approval of CAR-T drug application, and the first FDA approval in the United States for clinical trials in China's innovative cell drugs. In March 2020, Nanjing Legendary Bio completed a $150 million Pre-IPO financing, led by Hudson Capital, Johnson and Johnson, and Lilly Asia. On June 5, Nanjing Legendary Creatures was listed on NASDAQ. Founded in May 2017,
,2017 focuses on the development of high-quality, low-cost CAR-T cell drugs to address the complex production of cell gene therapy, the lack of off-the-shelf products, and the short duration of efficacy. Its Fast CAR-T platform takes only 1 day of CAR-T production time, while conventional CAR-T takes about two weeks to produce, reducing treatment time by nearly 12 days for patients with fast progression. In February 2019, The Company completed an $85 million round B financing, with Temasek, Lilly Asia Fund, Wing Park Capital, King Star Capital and Chengdu Miaoji. Founded in March 2018, the
drug MingJuno is a car-T cell immunotherapy technology research and development company established in China by Juno Therapeutics and drug Mingkang. Juno Therapeutic is a global leader in oncology cell immunotherapy, and Evaluate's report shows that Juno and Novartis hold most of the CAR-T core technology patents. In March 2018, The Company completed a $90 million round A financing, led by Temasek, Sequoia Capital China Fund and Yuanming Capital, and other investors including Yuanyu Origin, Yipu Capital, China Airlines Capital, and original shareholders, such as PharmaMing Kangd Group, and U.S. Juno Corporation.
Jikai Gene was founded in 2002, the business area covers antibody and cell therapy new drug research and development, various scientific research services, CRO and CDMO, molecular diagnostics and so on. Jikai Gene is a leading comprehensive provider of disease key gene research services, established the domestic leading slow virus library, covering almost all human genes of nearly 150,000 independent clones, forming a disease gene research services, early disease gene diagnosis, disease cell immunotherapy as one of the whole industry chain development model. In April 2020, JikaiGene completed nearly 400 million yuan of C-round financing. People Fu Biopharmaceutical Industry Investment Fund Center, Shanghai Zhangjiang Technology Venture Capital, Shanghai Yuhan Equity Investment, Zhejiang Zhuji Joint Venture Yongyu Investment, Shanghai Free Trade Zone Fund and other five institutions, Shanghai Spectrum Equity Investment Management Co., Ltd. managed funds, The source of Inno Spring to participate in this round of financing.
from the current financing round, in the 40 enterprises that have disclosed the financing round, The proportion of A-round and above enterprises reached 85%, of which 21 enterprises in round A, accounting for 46%, which to a certain extent shows that most of the domestic cell immunotherapy enterprises have passed through the initial growth, began to grow rapidly and enter the mature period.
the current distribution of domestic cell immunotherapy enterprises
domestic cell immunotherapy field has a listed enterprise, some enterprises are also in the late stage of financing.
September 2019, Yongtai Bio submitted its application for listing to Hong Kong stocks for the first time, and in March 2020, Yongtai Bio submitted a prospectus to the Hong Kong Stock Exchange for listing. Yongtai Bio was founded in 2006, is the early establishment of the cell immunotherapy company.
March 2020, Nanjing Legendary Bio has submitted a draft F-1 registration statement to the U.S. SEC, which is intended to go public in the U.S., and successfully landed on NASDAQ on June 5.
May 2020, ifita-owned Reuters reported that the company plans to go public in Hong Kong, raising $200m-$300m, and has appointed Goldman Sachs and UBS to arrange a listing.
currently listed in the new three boards of enterprises have seven, including Kang ai Biological, One Health, Mei Jian Bio, Hongtian Bio, Anji Concord, Shunyu Bio and Hamilton. The main business of these enterprises involves DC-CIK, CIK immunocellular preparation or treatment related technical services. In addition, Yingguan Bio received a strategic financing of RMB55,278,000 from The Hong Kong-listed Company,net of The U.S.-Listed Company, which acquired a 34% stake in Yingguan Bio.
theof the new three-plate listed cell immunotherapy enterprise. In terms of financing rounds, the A-round series of financing events ranked first, with 35. The C-round series has the highest single amount of financing, at $430 million. Round B series of financing events were 16, with a total financing of $2.54 billion. Although the number of B-round series and C-series financing events is lower than the A-series, the average financing amount of single-round financing is higher, compared with the average financing amount of the A-series, and the average financing amount of the B-round series and the C-series is 160 million yuan and 430 million yuan.
different financing rounds and amounts
. Cell immunotherapy-related investment institutions involved 173, of which Lilly Asia Fund and Volcanic Stone Capital are the most active investment institutions, have invested in 3 domestic cell therapy enterprises, in addition, 10 investment institutions have invested in 2 cell therapy enterprises, respectively, Temasek light Ma Xi, Gaetjia Investment, Haisong Medical Fund, Jiahao Fund, Junlian Capital, Shanghai Jianxin Capital, Shenzhen Venturecapital, Tongcheng Weiye, New Open Source, Yipu Capital, 146 investment institutions invest only one cell therapy enterprise. Lilly Asia Ventures, LAV, an active investment

pharmaceutical giant, was established in 2007 to invest in life sciences companies in Asia, particularly in China. Since its establishment, the fund has invested in 40 domestic start-ups in biomedicine, medical technology, medical devices and diagnostics.
Volcanic Stone Capital was established in May 2016 to explore, invest in and serve China's Internet innovation, pan-intelligence technology, new healthcare and high growth potential of start-ups, Volcanic Stone Capital currently manages a total of more than 2.2 billion yuan, the investment area covers Internet innovation, pan-intelligence technology and new healthcare.
from the product type, most cell immunotherapy enterprises engaged in a variety of cell therapy research and development. Half of the companies funded by Cell Immunotherapy top 10 have two or more cell immunotherapy. CAR-T, TCR-T and NK cell therapy are popular research and development directions. Of the 80 cell immunotherapy enterprises, 56 are engaged in CAR-T research and development, accounting for 75%, 15 enterprises engaged in TCR-T research and development, accounting for 20%, 15 enterprises engaged in CAR-NK research and development, accounting for 20%. In addition, TIL and CAR-NK, DC cell therapy research and development enterprises are also among the best.
the number of various types of cell therapy enterprises
as a hot investment in cell immunotherapy, more than 95% of the cell immunology field financing and CAR-T-related. We've seen some new trends in the huge camp of CAR-T research and development. For example, in the CAR-T field to finance Top10 enterprises, in addition to the clinical approval of CAR-T research and development enterprises Nanjing Legendary Biology and Pharmaceutical Ming Juno, UCAR-T and solid tumor CAR-T research and development enterprises are also popular with investors, each with 3 enterprises engaged in related research and development. Of the 56 CAR-T research and development enterprises, 13 are engaged in UCAR-T research and development and 15 are engaged in physical tumor CAR-T research and development.
the CAR-T sector to finance top10 enterprises
. UCAR-T, also known as generic CAR-T therapy, is essentially an allogeneic CAR-T cell therapy, which does not need to isolate T cells from the patient' body, but uses T cells donated by healthy volunteers to knock out genes such as T-cell TCR through gene editing technology, avoiding the immune rejection of the host to infusion CAR-T cells, but also the immune attack of the asota T-cells on the organ host (GVHD). Compared with the self-made CAR-T, UCAR-T has low drug price, stable quality and high preparation success rate, so that standardized batch preparation, timely supply and cost reduction can be achieved.
theof domestic UCAR-T research and development enterprises. In fact, the application of CAR-T to solid tumors has been the focus of discussion in the field of cell immunotherapy, for a long time, it is difficult to break through the barriers of CAR-T treatment of solid tumors. Professor Phil Greenberg, an authority on oncology immunology, once said: "TCR may have an advantage over CAR in treating solid tumors, and TCR-T therapy has a shorter path to success than CAR-T therapy." "We have summarized some of the problems in the CAR-T industry as follows:
1, CAR-T can only identify cell membrane surface proteins, while extracellular proteins only have hundreds, accounting for less than 20% of the total number of cell antigens.
2, CAR-T into the outer circumlorate of the tumor, T-cells are activated, through the play of the co-activation effect of immune cells to eliminate tumor cells, and therefore it is difficult to enter the solid tumor to amplify and play the ability to kill, but gradually exhausted in the blood.
3, domestic CAR-T research and development enterprises, but the target is relatively single, most of the focus on CD19, NKG2D ligand, etc., may face patent disputes with the international giant Juno.
Despite this, research and development and investment in the physical car-T sector remains a hot industry. in the already draped.