ImmuPharm Raises Nearly RMB 200 Million in Pre-IPO Round Co-Led by Gaorong Ventures, Building Dual Engine in Solid Tumors and In Vivo CAR-T

Recently, Immorna Biotherapeutics (易慕峰), a global leading innovative cell therapy company, completed a nearly RMB 200 million Pre-IPO financing round. This round was led by Gaorong Ventures and Jifeng Capital, with participation from Shenzhen Angel Fund and Mingdao Investment. Existing investor Joyin Capital continued to increase its stake.

Including this round, Immorna has completed three financing rounds in less than a year, with cumulative fundraising exceeding RMB 600 million. The company has attracted numerous internationally renowned biopharmaceutical funds, insurance funds, and industry funds, including Vivo Capital, Taiping Healthcare Fund, Fosun Health Capital, and Pine VC, reflecting the industry's strong interest in and recognition of Immorna's solid tumor CAR-T technology platform, clinical data and progress, in vivo CAR-T technology layout, and management team.

Steadily Advancing Solid Tumor CAR-T Clinical Development

Since its establishment, Immorna has focused on addressing unmet clinical needs in solid tumor treatment. Targeting the pain points of current solid tumor CAR-T therapies, the company has built cutting-edge next-generation CAR-T technology platforms, including SNR, Peri Cruiser®, T-Booster, and SolidGuard. These platforms aim to tackle challenges such as antigen heterogeneity, on-target off-tumor toxicity, T cell exhaustion, insufficient tumor tissue infiltration, and immunosuppressive tumor microenvironment, providing technical support for the continuous expansion of Immorna's solid tumor CAR-T product pipeline.

Meanwhile, addressing the pain points of long production cycles and high costs associated with autologous CAR-T products, Immorna developed the FOCO CAR manufacturing process, which effectively shortens production cycles and significantly reduces manufacturing costs, improving the accessibility of autologous CAR-T products.

According to Frost & Sullivan, Immorna's potentially best-in-class candidate IMC002 (targeting CLDN18.2) is the second most advanced solid tumor CAR-T therapy globally. In Phase I/IIa clinical trials, the RP2D dose cohort showed a median progression-free survival (mPFS) of 6.9 months and median overall survival (mOS) of 18.2 months for third-line and beyond gastric cancer patients. One patient achieved complete response (CR) per RECIST 1.1 criteria, with all tumor tissue completely disappearing 36 weeks after IMC002 infusion. As of the most recent follow-up assessment (January 2026), this patient has maintained complete remission for over 70 weeks without receiving any additional anti-tumor treatment. IMC002 initiated a pivotal Phase III clinical trial for advanced gastric cancer in Q3 2025 and is currently enrolling patients.

Additionally, Immorna's candidate IMC001 (targeting EpCAM) is the world's only EpCAM CAR-T therapy to have received IND approval from both the US FDA and China's National Medical Products Administration, and to have entered Phase I clinical trials. Immorna is steadily advancing multiple pipeline programs and continuously accumulating clinical and R&D data.

Forward-Looking Layout in In Vivo CAR-T Frontier Technology

Building on the steady clinical advancement of its autologous CAR-T programs, Immorna has made a forward-looking strategic investment in in vivo CAR-T frontier technology, establishing its proprietary iMAGIC in vivo CAR-T platform. This platform is based on novel lentiviral vectors capable of specifically recognizing and transducing in situ T cells, utilizing AI-optimized de-targeted MxV glycoprotein (MxV-G) and proprietary T cell targeting modules to achieve selective activation and transduction of T cells in vivo, while minimizing off-target gene delivery risks to non-T cells.

The iMAGIC platform has been validated in multiple preclinical models and programs, including projects targeting CD19 (IMV101), BCMA (IMV102), and CLDN18.2 (IMV103). Related research findings have been selected for presentation as posters at the American Society of Gene & Cell Therapy (ASGCT) Annual Meeting, ASGCT's Breakthroughs in Targeted In Vivo Gene Editing, and the 67th American Society of Hematology (ASH) Annual Meeting.

Going forward, Immorna will continue to deepen its dual-engine strategy in solid tumor and in vivo CAR-T, committed to becoming an immune cell therapy drug development enterprise that "brings long-term survival benefits to cancer patients worldwide."