Cytovia Therapeutics and its Newly Formed China-Focused CytoLynx Joint Venture Raise $45 Million to Advance NK Cell Therapy Pipeline
$45 million in financing has been secured by Cytovia and its China-focused joint venture CytoLynx, to advance their Natural Killer (NK) cell therapy for global commercialisation. TF Capital, together with Cytovia, have formed CytoLynx, and the venture is further supported by YF Capital, BioTrack Capital, Ruihua Capital and YG Sino-Dragon Fund. This will accelerate the clinical development of GPC3-targeted therapies for hepatocellular carcinoma. Cytovia will be eligible to receive up to $400 million in licensing milestones for Greater China rights.
Cytovia Therapeutics and its recently formed China-focused joint venture with TF Capital, CytoLynx Therapeutics, have secured $45 million to fund the IND enabling and initial clinical development of their pipeline. The investment for the new venture and for Cytovia’s research and development projects was led by TF Capital together with YF Capital, BioTrack Capital Ruihua Capital, and TG Sino-Dragon Fund.
The joint venture will develop Natural Killer (NK) therapeutics in the Greater China region, and CytoLynx will conduct in-China development of additional NK therapeutics for global commercialisation. As part of the agreement, Cytovia will receive up to $400 million in upfront development and commercial milestones.
This will be key to Cytovia’s acceleration of the global development of GPC3 programs targeting hepatocellular carcinoma, which affects a large population of people in Asia, and particularly in China, and to addressing the unmet medical needs posed by the disease. “CytoLynx will also serve as a development and commercialization platform for additional Cytovia products, as well as in-licensed immuno-oncology assets,” said Dr. Daniel Teper, Chairman and CEO of Cytovia.
About Cytovia Therapeutics
Cytovia Therapeutics is a biopharmaceutical company seeking to enable accessibility to transformational cell therapies and immunotherapies. The company is developing safe, effective and broadly available allogeneic “off-the-shelf” gene-edited iNK and CAR (Chimeric Antigen Receptor)-iNK cells derived from induced pluripotent stem cells (iPSCs) and NK cell engager multifunctional antibodies as a first line of defense against cancer. For more information, visit www.cytoviatx.com.
About TF Capital
TF Capital invests primarily in early stage life sciences companies that display high potential, with a team that has vast experience and resources in industry to aid portfolio companies. For more information, visit www.tfcapital.net.