AsianScientist (Mar. 16, 2018) – JW Therapeutics has announced the completion of its US$90 million Series A financing. The consortium, led by leading global investors Temasek, Sequoia Capital China and YuanMing Capital, is joined by a lineup of other investors, including Oriza Seed Capital, Yipu Capital, AVICT Global Holdings, Shiyu Capital, LVC Super Unicorn Fund and existing investors WuXi AppTec Group, and Juno Therapeutics.
JW Therapeutics is a clinical stage biopharmaceutical company founded by Juno Therapeutics and WuXi AppTec Group in 2016 to focus on leading cell-based therapy technologies.
By combining Juno’s world-class technology and platform with WuXi AppTec Group’s local expertise, R&D and manufacturing platform and broader partnerships, JW Therapeutics has successfully initiated the development of its first CD19-directed investigational therapy, JWCAR029. This is a chimeric antigen receptor T-cell (CAR-T) therapy being studied for the treatment of B-cell malignancies initially focusing on relapsed and refractory diffuse large B-cell lymphoma.
JWCAR029 has moved into clinical phase, and an investigational new drug application has recently been accepted by the China Food and Drug Administration. JW Therapeutics has built a fully validated clinical GMP facility in line with global QMS standards, and established a strong team led by seasoned biotech/pharma leaders.
“The proceeds from this round of financing will be used to further advance our JWCAR029 clinical program, develop a therapeutic pipeline and build a new commercial manufacturing facility,” stated Dr. James Li, co-founder and CEO of JW Therapeutics. “It will greatly accelerate the development and commercialization of JW Therapeutics’ portfolio to meet the vast unmet medical needs and provide innovative treatment options to patients in China.”
“I am very pleased that the company has attracted such a stellar group of investors to support its growth. JW’s mission is to bring the most advanced therapies to patients in China,” said Dr. Ge Li, Chairman of JW Therapeutics, and Chairman of WuXi AppTec Group.
Mr. Hans Bishop, CEO of Juno Therapeutics, added that he is excited that this round of financing will help accelerate the development of these leading-edge therapies to benefit patients in China. This sentiment was echoed by Mr. Neil Shen of Sequoia China, who said that by supporting the growth of JW Therapeutics, Sequoia China hopes to help even more patients regain their health and thus contribute to the further development of life sciences in China
“YuanMing Capital invests in the leading biotech companies in China. We believe in JW Therapeutics’ great potential in cell therapy and look forward to supporting the growth of the company through the life sciences ecosystem that we are building,” said Dr. Lawrence Yuan Tian, Founding Partner of YuanMing Capital.
Source: JW Therapeutics; Photo: Shutterstock.
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