BioCentury
ARTICLE | Company News

Tessa forms JV with biohub to bring its cell therapies to China

June 14, 2019 12:43 AM UTC

Tessa is hoping a JV with a Guangzhou biohub will speed access to the company’s virus-specific T cell therapies for cancers prevalent in China. The Singapore-based company, which partnered Thursday with GSGKC to develop and commercialize Tessa’s therapies in a $120 million deal, is the latest in a string of companies who have formed JVs to move their cell therapies into China.

China-Singapore Guangzhou Knowledge City will invest $80 million and Tessa Therapeutics Pte. Ltd. will invest $40 million in the JV in two stages. In the first stage, CSGKC will invest $40 million in exchange for 13% of the JV’s equity. Tessa will invest $20 million and contribute exclusive China rights to its cell therapies in exchange for an 87% stake in the JV...