NEW YORK – Oricell Therapeutics on Tuesday announced it has raised $45 million in a Series B1 financing round, which it will put toward expanding its clinical development efforts into the US, including for its GPRC5D-directed CAR T-cell therapy, OriCAR-017.
Shanghai-based Oricell is developing the autologous CAR T-cell therapy OriCAR-017 as treatment for relapsed or refractory multiple myeloma. The US Food and Drug Administration has granted the therapy orphan drug designation, and according to a statement from Oricell, it is on the cusp of receiving investigational new drug (IND) application clearance in the US and China, allowing the firm to begin clinical trials.
The firm is also developing Ori-C101, an autologous GPC3-directed CAR T-cell therapy for patients with advanced liver cancer. That therapy netted IND clearance from China's National Medical Products Administration (NMPA) in September 2022, allowing Oricell to begin clinical trials in China.
RTW Investments and Qatar Investment Authority led the Series B1 financing round, and existing investors Qiming Venture Partners and C&D Emerging Industry Equity Investment participated. The $45 million comes on the heels of the $125 million that the firm raised in a Series B financing round last year.