09 June, 2020
JW Therapeutics Completes $ 100 Million Series B Financing
News Release 9th,Jun,2020 -- JW Therapeutics, today announced the completion of a US$100 million Series B round financing, the investment was co-led by CPE and Mirae Asset, jointed by CR-CP Life Science Fund and Oriza Holdings, as well as existing investors including Loyal Valley Capital, Temasek, Sequoia Capital China, ARCH Venture Partners, Juno Therapeutics, a Bristol Myers Squibb company, and WuXi AppTec. This round of financing brings the total capital raised to over US$200 million.
JW Therapeutics plans to use the proceeds to further advance its lead product JWCAR029 (a CAR-T cell product targeting CD19 in clinical phase II), further build-out a pipeline, and gear up to establish commercialization capabilities to support product launch.
James Li, Co-Founder and CEO of JW Therapeutics, commented: “We are very pleased to welcome our new investors and, by working together, we hope to accelerate our product development and serve Chinese Patients.”
About JW Therapeutics
JW Therapeutics was founded in February 2016 in Shanghai. As a clinical-stage biopharmaceutical company focusing on the development, transformation and promotion of leading cell immunotherapy, JW Therapeutics aims to become the innovation leader in the industry. The company is committed to collaborating with both local and international peers to build a world-class leading innovation platform for cell immunotherapy, to create the industry standard and ecosystem together, and to benefit Chinese patients and those around the world.
The company has put into place a mature and stable process development system as well as the advancing cGMP manufacturing quality control system. It has obtained the first approval for the clinical trials of CAR-T product targeting CD19 with the largest number of patient enrollment under IND pathway, which enhances its leading position in clinical studies of CAR-T in China.
CPE is a leading alternative asset manager, with asset classes spanning private equity, mezzanine and the public market. Founded in 2008 by a world class team of investment professionals and supported by over 200 domestic and international investors, CPE is deep rooted in China and is a globally minded long-term value investor. The firm’s private equity portfolio of more than 100 companies is highly diversified by sector and stage of investment. CPE takes pride in its forward-looking investment philosophy and works hard to create value over the long-term for its investors.
About Mirae Asset
Founded in 1997, Mirae Asset is one of the largest independent financial groups in Asia, providing comprehensive services to clients worldwide - including asset management, wealth management, investment banking, and life insurance. Today, Mirae Asset has a presence in 15 markets and the group’s managed assets worldwide is approximately US$400 billion (as of December, 2019). With approximately 12,800 employees, Mirae Asset offers its clients a comprehensive suite of investment solutions from its offices in Australia, Brazil, Canada, China mainland, Colombia, Hong Kong, India, Indonesia, Japan, Korea, Mongolia, Singapore, the U.K., the U.S., and Vietnam.
About CR-CP Life Science Fund
CR-CP Life Science Fund is a private equity fund jointly established by China Resources Group and Charoen Pokphand Group of Thailand with an investment focus on early-/growth-stage companies in the life science universe, with total fund size of US$300 million. The fund invests in innovative products, technologies, and services globally that can fulfill the unmet need of Chinese patients. Leveraging the investment team’s diverse experience in healthcare management and capital investment, the fund assists portfolio companies to achieve value-adding China angle.
About Oriza Holdings
Suzhou Oriza Holdings Corporation. (hereinafter referred to as "Oriza Holdings") is an investment holding company that covers three major businesses: equity investment, debt financing, and investment and financing services. For nearly 20 years since its establishment, Oriza Holdings has continued to dig deep into the field of equity investment, invest in value around the industry chain, cover the entire life cycle of the company ’s capital needs, build a complete investment and financing service ecosystem, and strive to become a discoverer of technological innovation and financial innovation. Practitioners. The company has always adhered to value investment and long-term investment, and continues to support the development of the real economy. Especially in the field of biomedicine, it has established a complete investment platform for the biomedical industry chain. Currently, the investment projects include JW Therapeutics, Innovent, CStone Pharmaceuticals, Ascentage Pharma, Kintor, etc.
About Loyal Valley Capital
LVC is a leading private equity firm that has actively been investing in high-quality middle-market companies in China since 2015. LVC is an independent, partner-owned firm with an extensive network spanning public and private companies across China with preferred access to C-level professionals and the most attractive deals in the country. LVC currently manages three private equity funds with assets under management of over $1.6 billion. LVC has a growing team of 50 professionals based in Shanghai, China.
Temasek is an investment company with a net portfolio value of S$313 billion (RMB1.55 trillion) as at 31 March 2019. Our three roles as an Investor, Institution and Steward, as defined in our Temasek Charter, shape our ethos to do well, do right and do good. Our investment philosophy is anchored around four key themes: Transforming Economies; Growing Middle Income Populations; Deepening Comparative Advantages; and Emerging Champions. We actively seek sustainable solutions to address present and future challenges, as we capture investment and other opportunities that help to bring about a better, smarter and more sustainable world. Headquartered in Singapore, we have 11 offices around the world. For more information on Temasek, please visit www.temasek.com.sg.
About Sequoia Capital China
The Sequoia Capital team helps daring founders build legendary companies. In partnering with Sequoia Capital, companies benefit from our unmatched community and the lessons we’ve learned over 48 years. As “The Entrepreneurs Behind The Entrepreneurs”, Sequoia Capital China focuses on four sectors: TMT, healthcare, consumer/service, and industrial technology. Over the past 15 years we’ve had the privilege of working with approximately 600 companies in China.
About Bristol Myers Squibb/Juno Therapeutics
Bristol Myers Squibb is a global biopharmaceutical company whose mission is to discover, develop and deliver innovative medicines that help patients prevail over serious diseases. For more information about Bristol Myers Squibb, visit us at BMS.com or follow us on LinkedIn, Twitter, YouTube, Facebook and Instagram.
Celgene and Juno Therapeutics are wholly owned subsidiaries of Bristol Myers Squibb Company. In certain countries outside the U.S., due to local laws, Celgene and Juno Therapeutics are referred to as, Celgene, a Bristol Myers Squibb company and Juno Therapeutics, a Bristol Myers Squibb company.
About WuXi AppTec
WuXi AppTec provides a broad portfolio of R&D and manufacturing services that enable companies in the pharmaceutical, biotech and medical device industries worldwide to advance discoveries and deliver groundbreaking treatments to patients. As an innovation-driven and customer-focused company, WuXi AppTec helps our partners improve the productivity of advancing healthcare products through cost-effective and efficient solutions. With industry-leading capabilities such as R&D and manufacturing for small molecule drugs, cell and gene therapies, and testing for medical devices, WuXi AppTec’s open-access platform is enabling more than 3,900 collaborators from over 30 countries to improve the health of those in need – and to realize our vision that “every drug can be made and every disease can be treated.”