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  • CAR-T company Oricell raises $110M+ pre-IPO round & Gilead secures molecular glue degrader from Kymera

CAR-T company Oricell raises $110M+ pre-IPO round & Gilead secures molecular glue degrader from Kymera

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Joachim Eeckhout & Eduardo Longoria
April 13, 2026

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SNAPSHOT

China’s Oricell accelerates with $110M+ to race CAR-T into solid tumors ahead of IPO

Oricell Therapeutics secured over $110M in a pre-IPO funding round to accelerate development of its CAR-T therapies for cancer. A portion of this funding will go towards advancing Oricell’s lead candidate Ori-C101 for liver cancer, as well as targeting expansion before the IPO.

Why it matters: CAR-T therapies have struggled in solid tumors like liver cancer; success here could unlock a major new market and position Oricell as a global contender ahead of its planned IPO.

Backstory: Oricell, founded in 2015 in Shanghai, has steadily raised capital, including $125M (2022), $45M (2023), and $70M (late 2025). The company focuses on cell therapies, particularly CAR-T, which modifies immune cells to attack cancer. While CAR-T has shown success in blood cancers, solid tumors remain a key challenge.

Big picture: China’s biotech sector is racing to compete globally in advanced therapies like CAR-T. Oricell’s push into solid tumors and next-gen approaches like in vivo CAR-T reflects a broader industry shift toward more scalable and effective treatments.

Zoom in: Oricell´s goal is for Ori-C101 to become the first globally approved CAR-T therapy for liver cancer by targeting GPC3 in hepatocellular carcinoma (HCC). The early-stage data seems to be supporting that goal as Oricel claims that the safety and efficacy profile is “best-in-class.” The phase 1 trial had 10 patients across three dose levels, with the results showing that patients at the highest dose showed objective responses.

What’s next: Oricell plans to advance Ori-C101 into further clinical trials. Once this is done, the company intends to expand globally and prepare for regulatory milestones.

SNIPPETS

What’s happening in biotech today?

🤝 Gilead grabs: Gilead Sciences has exercised its option to license Kymera Therapeutics’ preclinical cancer drug candidate KT-200, paying $45M and bringing Kymera’s total earnings from the deal to over $85M, with up to $665M more in potential milestones. KT-200 is an oral CDK2 molecular glue degrader designed to selectively eliminate the CDK2 protein, potentially offering improved safety and efficacy over traditional inhibitors. Kymera will hand development to Gilead, which plans to begin IND-enabling studies ahead of human trials. The deal reflects growing industry interest in CDK2 targeting and continues Gilead’s strategy of bolstering its oncology pipeline through partnerships following recent acquisitions.

🛡️Antibody shield: Invivyd has announced plans to develop and test VMS063, an antibody drug targeting measles, as U.S. cases surge to levels not seen in decades due in part to declining vaccination rates. The therapy is designed to block the virus from entering cells by targeting its fusion protein and could serve as both a treatment and a preventive option, particularly for individuals who cannot or choose not to be vaccinated. The company aims to address a growing “immunity gap,” with millions at risk, and sees potential uses in reducing symptoms, preventing complications, and offering passive immunity. Invivyd expects to begin human trials by late 2026 while continuing development of its COVID-19 antibody pipeline.

💊 DAC duo: Roche and C4 Therapeutics have entered a new collaboration to develop degrader-antibody conjugates (DACs), an emerging cancer treatment approach that combines targeted protein degradation with antibody delivery. The partnership will focus on two undisclosed oncology programs, with C4 using its TORPEDO platform to design degrader payloads and Roche handling antibody selection, development, and commercialization. C4 will receive $20M upfront and could earn over $1B in milestone payments plus royalties. The agreement builds on a decade-long partnership between the companies and reflects their shared aim to advance DACs as a potentially transformative therapeutic modality in oncology.

🎲 BMS bet: Oxford BioTherapeutics (OBT) has entered a multi-year collaboration with Bristol Myers Squibb to develop next-generation T-cell engager therapies for solid tumors, marking its third major pharma partnership in a year. OBT will use its OGAP-Verify platform to identify tumor-selective targets and generate development candidates, while Bristol Myers Squibb will handle further development, commercialization, and clinical translation. Although financial terms were not disclosed, the deal includes upfront payments, milestones, and royalties.

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