Artiva Biotherapeutics Inc., a U.S. entity set up in 2019 by South Korea’s Green Cross Holdings and Green Cross Lab Cell (GC Lab Cell) for the development of natural killer cell-based therapies, has attracted $78 million in Series A investment from leading U.S. venture investors.

GC Lab Cell on Friday announced in a press release that San Diego, CA-based Artiva Biotherapeutics has received $78 million in Series A investment from U.S. bio venture capitals including 5AM Ventures, venBIO, and RA Capital.

With the latest investment, Artiva Biotherapeutics will develop the next-generation treatment, using natural killer (NK) cells, a type of immunologically competent cells that destroy cancer cells.

Artiva Biotherapeutics plans to launch a clinical trial of AB101, an umbilical cord blood-originating NK cell treatment in the third quarter in the U.S.

Tom Farrell, chief executive of Artiva Biotherapeutics, said the company expects new funding to help accelerate the development of multiple candidates in its trial.

Artiva Biotherapeutics focuses on bringing in highly potential new drug candidates from outside and engaging in only development process such as of clinical tests and commercialization. It is after “no research development only” business model.

Artiva Biotherapeutics currently focuses on follow-up development using natural killer (NK) cell treatment technology that GC Lab Cell has transferred.

Park Dae-woo, chief executive of GC Lab Cell, said that Artiva Biotherapeutics set to develop therapies targeting the U.S. market will develop stem cell and genome editing derived NK cell treatments in hopes of making inroads into other overseas markets.

By Lee Eun-joo

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