In full transparency, the following press release was submitted to SOURCE media via its business wire service.
NATICK – HebeCell Corp. yesterday, August 31 announced it has successfully closed a $53 million Series A financing to advance its unique off-the-shelf pluripotent stem cell (PSC)-CAR-NK products into clinics.
This strategic investment is led by Jacobio Pharmaceuticals (“Jacobio” 1167.HK), who will collaborate with HebeCell to develop the next-generation PSC-CAR-NK therapy for cancer, viral infection, and autoimmune diseases.
Capital from this financing will be used to accelerate HebeCell’s R&D program, IND filing, clinical application, and marketing as the company grows its operations both in the US domestically and internationally. It will also help HebeCell expand globally and gain international presence in the NK cell therapy industry.
“This Series A round financing is crucial in transforming HebeCell from a start-up into a clinical stage company,” said Dr. John Lu, CEO of HebeCell. “And it further validates the value of HebeCell’s next-generation technology platform which is truly disruptive to the industry. We are very eager to work with Jacobio and all the investors and partners to strengthen the technology and bring products to market using our platform.”
“The establishment of a master PSC-CAR cell bank targeting multiple specific antigens will provide inexhaustible cell sources for the manufacture of truly off-the-shelf CAR-NK cells for all patients,” said Dr. Allen Feng, CSO of HebeCell. “The unique complementary strengths and resources between HebeCell and Jacobio will alter the NK cell therapy field by delivering cost effective allogeneic products worldwide and achieve the unmet needs in the Immuno-Oncology.”
“Cell therapy is at the forefront of cancer therapy. We have long focused on revolutionary and innovative therapies,” said Dr. Wang Yinxiang, CEO of Jacobio. “We have strong ability and know-how on drug R&D of small molecule and antibody, with the partnership with HebeCell in place, we plan to add the allogeneic cell therapy into our pipelines in a move to explore the clinical value of a combination therapy with our existing products.”
HebeCell Corp, founded in 2016, is primarily engaged in developing universal and cost-effective NK cell therapeutics based on its proprietary 3D-pluripotent stem cell (PSC) platform, the off-the-shelf NK cell products will be readily available to all patients worldwide for the treatment of cancer, viral infection, and autoimmune diseases. HebeCell’s team includes multiple world-leading experts in stem cell biology, as well as experienced entrepreneurs and business developers. The company operates a fully equipped state-of-the-art R&D and GMP facility in Natick, one of the world’s largest biotech hubs.