Lilly Asia Ventures owns more than 9% of the cancer cell therapy developer, which has set a preliminary target of $100m for its initial public offering.
China-based cancer therapy developer Gracell Biotechnologies has filed to raise up to $100m in an US initial public offering that will give pharmaceutical firm Eli Lilly an exit.
Gracell is working on CAR-T cell therapies to treat cancer and the proceeds will fund research and development of drug candidates for refractory multiple myeloma and T cell acute lymphoblastic leukaemia in addition to building an R&D hub in the US.
Wellington Management, OrbiMed and 5Y Capital (then Morningside Ventures) co-led…
