China-based startup OriCell Therapeutics has announced the completion of Series B financing totaling over $120 million. This round of financing was jointly led by Qiming Venture Partners and Quan Capital with participation by several leading international and Chinese investment funds, as well as existing shareholder C&D Emerging Capital.

The new funding will go toward the development of OriCell's cell therapy pipeline, and Company's proprietary discovery platform, as well as the construction of a manufacturing plant for both clinical and commercial purposes.

OriCell's Investigational New Drug (IND) submission for Ori-C101, company's first internally developed CAR-T product targeting GPC3 for the treatment of advanced liver cancer, was accepted by the National Medical Products Administration (NMPA) of China in June of this year. In data published at the 2021 American Society of Clinical Oncology (ASCO) annual meeting, Ori-C101 demonstrated superior safety and efficacy in patients with GPC3-positive advanced liver cancer with an objective response rate (ORR) of 44% and disease control rate (DCR) of 78%. The longest follow-up thus far is more than 22 months, with additional follow-ups ongoing.