Gracell Biotechnologies raises $85 million for immune cell gene therapies

27 February 2019

China’s Gracell Biotechnologies has completed its $85 million series B funding.

The financing was led by Temasek with Lilly Asia Ventures, Kington Capital, King Star Capital and Chengdu Miaoji also participating in the round. This new funding will enable Gracell to enter clinical trials with several of its next generation immune cell gene therapy drug candidates.

Founded by Dr Wei (William) Cao in 2017, Gracell is an innovative biomedical company focusing on the development of new generation cellular drugs. Dr Cao was previously co-founder and chief executive of a Nasdaq-listed cell therapy company. Gracell was initially supported by series A financing from 6 Dimensions shortly after its establishment.

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