Houston biotech company raises $15M round led by Chinese health care investor
A Houston-based biotech company that was founded by a University of Texas MD Anderson Cancer Center doctor has closed a fresh round of funding.
Cellenkos closed its $15 million series A round led by BVCF Management, based in Shanghai, China. The biotech company is developing novel T regulatory (Treg) cell therapies to treat autoimmune and inflammatory disorders. Dr. Simrit Parmar of the University of Texas MD Anderson Cancer Center and Golden Meditech Holdings Limited founded the company.
Dr. Parmar's specialty is in Lymphoma Myeloma and experimental therapeutics. According to a news release, she is also the principal investigator of a research laboratory focused on umbilical cord blood-derived Treg cells including their isolation and ex-vivo expansion for generating clinically relevant doses for their application in autoimmune diseases and inflammatory disorders.
"We feel fortunate to welcome BVCF as a new investor. As I look ahead, we are committed to bringing our novel Treg cell therapies to patients in need around the world," says Dr. Parmar in a news release.
BVCF is a health care investment firm focused on growth-stage healthcare companies from around the world. The portfolio has a particular focus on innovative solutions that address unmet health needs in China.
"Cellenkos' innovative and transformative Treg cell therapy platform to address autoimmune and inflammatory disorders has the potential to significantly serve unmet patient needs. We are proud to lead the financing and support their groundbreaking efforts," says Dr. Zhi Yang, managing partner at BVCF, in the release.
The company has plans to launch a phase 1b trial of add on therapy with one of its products for the treatment of myelofibrosis patients. The fresh funds will allow the company to continue to scale and test its life-saving technology.