Tessa Therapeutics, a Singapore company, will form a $120 million JV with China-Singapore Guangzhou Knowledge City (CSGKC) to develop Tessa’s oncology cell therapies in China. The companies will fund the JV in two stages, with Tessa contributing its cell therapies plus $40 million and CSGKC $80 million in cash. In the first stage, Tessa will invest $20 million plus China rights to its technology, and CSGKC will add $40 million for a 13% stake in the JV. A clinical-stage company, Tessa is developing autologous and off-the-shelf allogeneic therapies that target a range of cancers.
Source: China Biotoday
