CBMG raises $120 million for immuno-onc and stem cell platforms

Published: 1 October 2021

Cellular Biomedicine Group (CBMG) has raised $120 million in series A funding, with investors including AstraZeneca, after delisting from the Nasdaq in February 2021.

The financing will be used to accelerate clinical development of the China/US-based company’s  immuno-oncology platform. 

CBMG’s pipeline includes:

  • C-CAR039, an anti-CD19/CD20 bispecific CAR-T therapy for the treatment of patients with relapsed or refractory non-Hodgkin lymphoma 
  • C-CAR088, a B cell maturation antigen (BCMA) therapy for patients with late-stage relapsed/refractory multiple myeloma 
  • Armored CAR-T therapies and tumor-infiltrating lymphocytes therapies targeting solid tumors

The funding will also support the development of a stem cell platform, including the treatment of acute respiratory distress syndrome (ARDS) using allogeneic human adipose mesenchymal stem cell exosomes and extracellular vesicles. The company also has phase II trials underway for two therapies targeting knee osteoarthritis.