HOPSTEM completed 40 million USD series B financing, to develop safe, effective and affordable iPSC cell therapies for global patients

CAYMAN ISLANDS, British Overseas Territory, Oct. 31, 2021 /PRNewswire/ -- After A++ financing in May this year, HOPSTEM announced that the company has completed a round of near 40 million USD Series B financing, led by a top VC/PE in biomedical field, followed by Lilly Asia Ventures and current shareholder YuanBio Venture Capital.

According to the company, this round of financing will be used to support the IND application of hNPC01 (with stroke as the first indication) both in China and the United States, the following clinical trial, expansion of product pipelines, and development of automated closed-system manufactory processes.

HOPSTEM is an innovative startup company aiming to develop safe, effective and affordable iPSC cell therapy products for global patients. HOPSTEM owns 40,000 square feet GMP facility and R&D center, with CMC platform and quality system for iPSC cell products in China following EMA and US GMP and regulations. The GMP iPSC line and cell bank are established for global cell product development and out-licensing. Core patents of HOPSTEM have been authorized in China and entered the United States, the European Union, and Japan through PCT, with more patents and products being deployed.

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SOURCE HOPSTEM