BRIEF—CAR-T company Gracell raises $100 million plus

Cell therapy company Gracell Biotechnologies has raised about $100 million in a private share placement, with another $50 million to follow, should investors take the option within two years.

The China and USA-based company secured the financing from new and existing institutional investors, with Vivo Capital leading the funding round.

Gracell, which is focused on developing CAR-T therapies for cancer and autoimmune conditions, said it now had a cash runway through to the second half of 2026.

Lead candidate GC012F is a dual BCMA and CD19 targeting therapy under development for multiple myeloma, B-cell non-Hodgkin lymphoma and systemic lupus erythematosus.