On March 23, 2020 Nanjing IASO Biotherapeutics reported that it has completed a $60 million Series B financing led by GL Ventures, a Hillhouse Capital VC focusing on early-stage innovative companies (Press release, IASO BioMed, MAR 23, 2020, View Source [SID1234555760]). Founded in 2017, IASO is developing cell therapies for oncology conditions, with more than 10 pipeline products led by autologous and universal CAR-T products for hematological tumors. It is also working on novel TCR-like CAR-T cell therapies for solid tumor indications. Last year, IASO and Innovent announced their anti-BCMA CAR-T produced a 100% overall response rate in patients with relapsed/refractory multiple myeloma.

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