China based CARsgen Therapeutics, a leading immune-oncology company focusing on the development of CAR-T therapies, has entered into a Pre-C financing framework agreement with receiving $60M equity investment from existing and new investors. The funds will be used in support of Investigational New Drug submissions of several CAR-T therapeutics and Next-generation CAR-T research.

The company has launched several First-in-Class CAR-T clinical trials to treat the relapsed or refractory tumors, including CAR-GPC3-T trial for HCC, CAR-EGFR/ EGFRvIII-T trial for GBM, and CAR-Claudin18.2-T trial for gastric and pancreatic cancer.

CARsgen also has ongoing clinical programs of the humanized CAR-CD19-T trial for leukemia and the fully human CAR-BCMA-T trial for multiple myeloma. The company will be submitting a handful of new CAR-T INDs (Investigational New Drug Submissions) in 2018 to speed up the company's clinical progress.