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JW Therapeutics secures $90m in new funding

Published 08 March 2018

Clinical stage biopharmaceutical firm JW Therapeutics has secured $90m Series A financing from a consortium led by Temasek, Sequoia Capital China, and YuanMing Capital.

Other investors Oriza Seed Capital, Yipu Capital, AVICT Global Holdings, and existing investors WuXi AppTec Group, and Juno Therapeutics also took part in the funding round.

JW Therapeutics is a clinical stage biopharmaceutical company founded by Juno Therapeutics and WuXi AppTec Group in 2016 to focus on leading cell-based therapy technologies.

By combining Juno's world-class technology and platform with WuXi AppTec Group's local expertise, R&D and manufacturing platform, and broader partnerships, JW Therapeutics has successfully initiated the development of its first CD19-directed investigational therapy, JWCAR029 (a CAR-T therapy being studied for the treatment of B-cell malignancies initially focusing on relapsed and refractory DCBCL).

JWCAR029 has moved into clinical phase, and the IND has recently been accepted by the China Food and Drug Administration (CFDA). JW Therapeutics has built a fully validated clinical GMP facility in line with global QMS standards, and established a strong team led by seasoned biotech/pharma leaders.

JW Therapeutics co-founder and CEO James Li said: "The proceeds from this round of financing will be used to further advance our JWCAR029 clinical program, develop a therapeutic pipeline and build a new commercial manufacturing facility.

"It will greatly accelerate the development and commercialization of JW Therapeutics' portfolio to meet the vast unmet medical needs and provide innovative treatment options to patients in China."

JW Therapeutics chairman and WuXi AppTec Group chairman Ge Li said: "I am very pleased that the company has attracted such a stellar group of investors to support its growth. JW's mission is to bring the most advanced therapies to patients in China.”

Juno Therapeutics CEO Hans Bishop said: "Collectively we aim to help cancer patients around the world live longer and better lives.

"We believe CAR-T therapies have the potential to do this, and we are excited that this round of financing will help accelerate the development of these leading-edge therapies to benefit patients in China."

Sequoia China founding and managing partner Neil Shen said: "Sequoia China has always followed technological innovation and development in the healthcare industry closely. CAR-T cell therapy is one of the major breakthroughs in biotech.

"By supporting the growth of JW Therapeutics, a leading domestic player in this space, we hope to help even more patients regain their health and thus contribute to the further development of life sciences in China."

YuanMing Capital founding partner Lawrence Yuan Tian said: "YuanMing Capital invests in the leading biotech companies in China. We believe in JW Therapeutics' great potential in cell therapy, and look forward to supporting the growth of the company through the life sciences ecosystem that we are building."

Source: Company Press Release