The financing is expected to drive Grit Biotechnology’s Phase 2 trial for GT101 and further development of next-generation gene-edited TIL products
Grit Biotechnology secures $60m in a Series B funding round. (Credit: Sangharsh Lohakare on Unsplash)
China-based startup Grit Biotechnology has raised over $60m in a Series B financing round to support the development of its tumour-infiltrating lymphocyte (TIL) portfolio.
Established in 2019, Grit Biotechnology is a cell therapy company with a focus on developing revolutionary cancer treatments.
The Series B round was led by China International Capital Corporation (CICC). It saw participation from Qianhai Ark, Yuanhe Capital, Liando Group, and HeFangTian Venture Partnership as well.
There was also participation from the company’s existing investors including Sherpa Healthcare Partners, Matrix Partners China, and Decheng Capital.
The financing is expected to aid Grit Biotechnology’s Phase 2 trial for GT101 and further development of next-generation gene-edited TIL products.
Grit Biotechnology is also developing GT201, which is a genetically engineered TIL product that is said to enhance T cell survival and function by expressing a key membrane-bound cytokine.
With less dependency on the interleukin-2 (IL-2) cykotine, it outperforms conventional TIL therapy in terms of proliferation, tumour-killing, and persistence, Grit Biotechnology said.
The China Food and Drug Administration (CFDA) has given Investigational New Drug (IND) approval to begin Phase 1 clinical trials of GT201.
Currently, GT101 is said to be the fastest-developing TIL therapy in China. It is expected to enter into a Phase 2 trial by the end of this year.
The Chinese startup, which closed a Series A+ financing round in July 2021, has StemTexp, StaViral, KOReTIL, and ImmuT Finder technology platforms for its TIL product development.
The next generation TIL product from Grit Biotechnology, which is GT316, is said to improve TIL function by removing immunoregulatory targets found using ImmuT Finder CRISPR/Cas9 screening.
GT316 effectively removed tumours maintained by low-dose IL-2 support with minimal toxicity in PDX mice models, claimed the company.
It is now undergoing investigator-initiated trials in China and is said to provide significant clinical advantages over traditional TIL medicines.
The cell therapy company has a 10,000m² GMP-level cell therapy manufacturing facility in Suzhou, China.