South Korea’s SCM Lifescience, a high-purity stem cell biotech name, is beefing up its cell therapy capabilities through CoImmune, which successfully completed a series A financing worth $45 million to fund its immunotherapy pipeline.

The latest financing of CoImmune jointly owned by SCM Lifescience and Genexine is expected to boost its initial public offering plan on Nasdaq.

CoImmune is developing a chimeric antigen receptor T cell (CAR-T) therapy for the treatment of patients with advanced leukemia and a dendritic-cell vaccine against cancer.

The company is one of a few cGMP manufacturers around the world for immune cell therapy production and development.

SCM Lifescience and Genexine acquired Argos Therapeutics in February 2019 and renamed it into CoImmune.

With the latest investment, SCM Lifescience aims to become a global player in cell therapeutics.

By Kim Si-gyun and Minu Kim

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