Ex-Legend Biotech Founder Secures $19.4M for Cancer Therapy Innovation
Fan Xiaohu, the founder and former chief scientist of Legend Biotech, has successfully raised 140 million RMB (approximately $19.4 million USD) in Series A funding for his new biotech company, Shenzhen Bay Island Cell. The funding round was led by Songhe Capital with participation from Oriental Fortune Capital. This development comes after Fan Xiaohu's victory in a lawsuit against his former company, Genscript, which had accused him of trade secret infringement. The Supreme People's Court's final ruling in late 2025 dismissed all of Genscript's claims, clearing Fan Xiaohu's name.
Bay Island Cell is focusing on developing a "shelf-ready" allogeneic CAR-T therapy that bypasses gene editing. This approach aims to overcome the high costs and long preparation times associated with current autologous CAR-T treatments, which can exceed 1 million RMB per dose. The company presented early human trial data at the American Society of Clinical Oncology (ASCO) annual meeting, showcasing its non-gene-edited universal CAR-T technology platform. This platform is designed for large-scale, industrial production, potentially reducing costs to levels comparable to standard biologics and enabling more accessible cancer treatments.
Fan Xiaohu acknowledges the challenging funding environment for innovative drugs, particularly in the cell and gene therapy (CGT) sector, with capital increasingly drawn to AI. He advocates for a rational investment approach focused on scientific and clinical breakthroughs rather than market trends. Despite the competitive landscape, including the rise of in vivo CAR-T therapies, Bay Island Cell is also exploring this area and believes its non-gene-editing CAR-T platform offers a distinct advantage in terms of safety, scalability, and cost-effectiveness, aiming to make advanced cancer therapies more affordable and widely available.
The successful funding and legal victory for Fan Xiaohu's Bay Island Cell highlight a critical juncture in the cell and gene therapy (CGT) market. While the industry grapples with the high costs and complex manufacturing of autologous CAR-T therapies, the pursuit of scalable, off-the-shelf allogeneic solutions is intensifying. Bay Island Cell's strategy to avoid gene editing, a common but potentially risky approach, addresses key safety and manufacturing concerns. This move could represent a significant shift towards democratizing advanced cancer treatments, making them more accessible and affordable. However, the long-term efficacy and safety profile of non-gene-edited CAR-T, especially in comparison to established or emerging gene-edited and in vivo methods, will be crucial for market adoption. The company's success will depend on navigating rigorous clinical trials and demonstrating a clear cost-benefit advantage in a rapidly evolving therapeutic landscape.
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