China's CARsgen raises $30M for CAR-T work

Shanghai-based CARsgen Therapeutics has rounded up a $30 million B round to advance its work on CAR-T therapies. The biotech has been working on personalized CAR-T programs, reengineering T cells from patients and turning them into cancer attack weapons. "Over the course of 2016, we intend to complete Phase I studies of both our anti-EGFR and anti-GPC3 therapeutics for glioblastoma and hepatocellular carcinoma, respectively, in China," says CEO Zonghai Li. "Concurrently, we expect to finish preclinical testing and file an Investigational New Drug application with the U.S. Food and Drug Administration for our anti-EGFR program and anti-GPC3 program by the 2nd quarter of 2017." KTB Ventures and Jolly Innovation Ventures led the round, which included Kaitai Capital and JIC GenesisFountain Healthcare Ventures. Chi Hoon Hyun of KTB Ventures will join the board of directors. Release