Ucello Therapeutics Completes US$25 Million Series A Financing - PR Newswire APAC
Summary
Proceeds from the financing will be used to advance the companys development of proprietary universal CAR-T technology platform CBT-X20, progress pipeline programs including lead asset AT19 through to US and China IND filings, and build a state of the art GMP-ready clinical manufacturing facilities. "Universal CAR-T is a very competitive field for players in the cell therapy sector, in which few breakthroughs having been made so far due to many technical hurdles," stated Mr. Feng Deng, Founding and Managing Partner of the Northern Light Venture Capital. The firm has invested in more than 700 companies, including XPeng, Li-Auto, Futu Securities, Guazi, Eleme, Youzan, Ronbaymat, Xgimi, Momo, PingCap, Peijia Medical, Career International, Chemclin, Beisen, Lexin, ZiHaiGuo, ITcast, METAX, Simplelove, SemiDrive, MegaRobo, Akrostar Technology, X-EPIC, Bota Bio, Advaccine, among others. Bolstering its investments by serving as an external partner to start-up teams for over 10 years, Co-Win Ventures accompany them to grow to mature stages by creating significant value-add, while jointly facilitating industrial progress and social development. Leveraging significant investing and entrepreneurial expertise in both China and the United States, the NLVC team looks to support entrepreneurs with groundbreaking ideas and exceptional vision to develop lasting ventures that positively impact society.