CARsgen paves way to IPO with $60M pre-C round

Immuno-oncology company CARsgen Therapeutics Co. Ltd. (Shanghai, China) is raising $60 million in a pre-series C round led by Photon Fund.

VP of Strategic Alliance Jie Jia told BioCentury that the round will close following the company's restructuring to a variable interest entity (VIE), which he said will enable CARsgen to pursue an IPO on NASDAQ or the Hong Kong Stock Exchange. The VIE restructuring is slated to complete by June. ...