On September 8, 2023 Grit Biotechnology reported the completion of a Series B financing round, raising over 60 million USD (Press release, Grit Bio, SEP 8, 2023, View Source [SID1234635035]). The investment was led by CICC with participation from Qianhai Ark, Liando Group, Yuanhe Capital, HeFangTian Venture Partnership and existing investors Sherpa Healthcare Partners, Decheng Capital and Matrix Partners China.
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The financing will support Grit Biotechnology’s Tumor-Infiltrating Lymphocyte (TIL) pipeline development, including the pivotal Phase II trial for GT101 and the advancement of next-gen gene-edited TIL products. Founded in 2019, Grit Biotechnology is a pioneering cell therapy company focused on delivering transformative cancer treatments. GT101 is currently the fastest-developing TIL therapy in China and will enter a Phase II trial by the end of 2023.
Grit Bio has four core technology platforms central to its TIL development: StemTexp, StaViral, KOReTIL and ImmuT Finder, a genome-wide CRISPR/Cas9 screening platform. These platforms have enabled the development of next-generation gene-edited TIL products.
GT201, a genetically engineered TIL product by Grit Biotechnology, boosts T cell survival and function by expressing a vital membrane-bound cytokine. It surpasses traditional TIL therapies in proliferation, tumor-killing and persistence with reduced reliance on IL-2. GT201 IND is approved by CFDA and entered Phase I clinical trials.
GT316, Grit Biotechnology’s next-gen TIL product, enhances TIL performance through knock-out of immunoregulatory targets identified via ImmuT Finder CRISPR/Cas9 screening. In PDX mouse models, GT316 effectively eliminates tumors supported by low-dose IL-2 support with minimal toxicity. It offers substantial clinical benefits compared to conventional TIL products and is currently in IIT clinical trials in China.
With 100+ experienced professionals and a 10,000 sqm GMP-level cell therapy manufacturing facility in Suzhou, China, Grit Bio is a leading player in cell therapy field in China aimed at expediting the development of GT101 and next-generation TIL pipelines and addressing the unmet medical needs of solid tumor patients.