CARSGEN-B (02171) introduces Zhuhai SoftBank Xinchuang Investment to accelerate the progress of universal CAR-T cell products in mainland China.

CARSGEN-B (02171) announced that several of its subsidiaries have reached an agreement with Zhuhai Hengqin Softbank Xinchuang Equity Investment Management Enterprise (Limited Partnership) (Zhuhai Softbank Xinchuang), a fund managed by the company, the Investor. According to the agreement, the Investor agrees to subscribe to the newly registered capital of Yukezhe Biopharmaceutical (Shanghai) Co., Ltd. (Yukezhe) for a cash consideration of RMB 80 million, accounting for 8% of Yukezhe's increased registered capital after this capital increase. After this capital increase, the company's equity in Yukezhe will be diluted from 100% to 92%. Yukezhe is a new drug research and development company in mainland China specializing in the use of universal CAR-T cell therapy to treat hematologic malignancies. According to the agreement, Yukezhe has exclusive rights in mainland China for the research, production, and commercialization of the company's universal BCMA CAR-T cell product for the treatment of multiple myeloma and plasma cell leukemia, as well as the universal CD19/CD20 CAR-T cell product for the treatment of B-cell tumors (excluding indications for the treatment of autoimmune diseases).