Cytovia Therapeutics and its Newly Formed China-Focused CytoLynx Joint Venture Raise $45 Million to Advance NK Cell Therapy Pipeline
Summary
• Cytovia eligible for up to $400 million in licensing milestones for Greater China rights • Coordinated US and China clinical development of GPC3-targeted therapies for hepatocellular carcinoma AVENTURA, Fla. and SHANGHAI, China, Sept. 13, 2021 (GLOBE NEWSWIRE) -- Cytovia Therapeutics, Inc. (“Cytovia”), a biopharmaceutical company developing allogeneic “off-the-shelf” gene-edited iNK and CAR (Chimeric Antigen Receptor)-iNK cells derived from induced pluripotent stem cells (iPSCs) and NK cell engager multifunctional antibodies, and CytoLynx Therapeutics (“CytoLynx), its newly-formed China-focused joint venture, announced today that they have closed $45 million from institutional investors to finance the IND enabling and initial clinical development of their pipeline. The collaboration agreements between CytoLynx and Cytovia will advance multiple NK therapeutics through product development in the Greater China region. Dr. Daniel Teper, Chairman and CEO of Cytovia commented: “We are excited to accelerate the global development of our lead GPC3 programs for the treatment of hepatocellular carcinoma, a condition with significant unmet medical needs and a very large patient population in Asia, particularly in China, and establish a path to provide these therapies to the Chinese market. Cytovia’s R&D laboratories in Natick, MA and GMP cell manufacturing facility in Puerto Rico are augmented by scientific partnerships with Cellectis, CytoImmune, the Hebrew University of Jerusalem, INSERM, the New York Stem Cell Foundation, STC Biologics, and the University of California San Francisco (UCSF). Through strategic investments in various key areas and right partnerships, TF Capital hopes to capture opportunities in the rapidly expanding Chinese life sciences market.