Shanghai-based Hrain Biotechnology has raised 200 million yuan ($28 million) in a fresh funding round.
The Series B round was led by Shenzhen Venture Capital, which was joined by Xiamen Junyida Capital Management, Qianhaiyu Investment, and others.
Hrain Biotechnology plans to use the new capital to finance the clinical trials and commercialization of its Chimeric antigen receptor T cells technologies.
The startup also noted that the latest funding round is expected to lay a solid foundation for its initial public offering in the future.