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US$120 Million Joint Venture in China to Develop Innovative Cell Therapies for Cancer

Tessa Therapeutics and China-Singapore Guangzhou Knowledge City partnership will leverage Tessa Therapeutics’ global operational capabilities and cell therapy platform technologies to target prevalent cancers in China.

Tessa Therapeutics, a clinical-stage cell therapy company focused on the development of autologous and allogeneic therapies to treat cancer, announced that it will establish a joint venture with China-Singapore Guangzhou Knowledge City (CSGKC).

The joint venture will be the sole licensee of Tessa’s cell therapies for research, clinical development and commercialisation in China.

Tessa and CSGKC will invest a combined total of US$120 million in the joint venture – CSGKC will contribute US$80 million and Tessa will provide US$40 million.

The joint venture’s immediate strategic priorities will focus on conducting clinical trials in China for Tessa’s cell therapies, which target prevalent cancers in the country for patients with hematological malignancies and solid tumors. This will be done by building up robust operational capabilities and adding leading clinical trial sites in China into Tessa’s global clinical trial network. [APBN]

Source: Tessa Therapeutics