Simnova Raises Nearly RMB 400 Million in Series B Financing to Advance CAR-NK and In Vivo CAR-T Platforms
Shanghai-based cell therapy developer Simnova has completed a nearly RMB 400 million (approximately US$55 million) Series B financing round, providing fresh capital to advance its lead off-the-shelf CAR-NK program SNC103 and its emerging in vivo CAR-T platform led by SNC116.
Chinese cell therapy company Simnova Biotech (先博生物) announced today the completion of a nearly RMB 400 million Series B financing, as investors continue to back next-generation approaches aimed at making engineered cell therapies more scalable, accessible and easier to administer.
The financing was co-led by Fortera Capital (孚腾资本), Cenova Capital (千骥资本), and Shanghai Pudong Venture Capital (浦东创投). Zhangke Herun and Oriza Holdings also participated, while existing shareholder Youshan Capital made an additional investment.
Proceeds will primarily support a confirmatory clinical program for Simnova’s lead universal CAR-NK candidate SNC103, as well as the continued clinical and potentially registrational development of its SNC116 in vivo CAR-T platform. (phirda.com)
From Simcere Cell-Therapy Unit to Independent Biotech
Simnova traces its origins to 2019, when the business was established as part of Simcere Pharmaceutical’s cell-therapy activities. The company was subsequently spun out from Simcere and began operating independently in 2021.
Simnova’s own corporate history records the completion of a GMP manufacturing facility in Shanghai in 2020, followed by its spinout in 2021 and the entry of its first allogeneic CAR-NK and solid-tumor CAR-T programs into clinical development in 2022. (simnovabio.com)
The company has since built its R&D strategy around three principal technology platforms:
| Platform | Approach | Key Program/Focus |
|---|---|---|
| Universal CAR-NK | Off-the-shelf engineered NK-cell therapy | SNC103, CD19 CAR-NK |
| In vivo CAR-T | Generates CAR-T cells directly inside the patient | SNC116, lentiviral-vector-based |
| Multi-target solid-tumor CAR-T | Engineered T-cell approaches designed to address tumor heterogeneity | Multiple solid-tumor programs |
Together, the platforms address several of the biggest limitations of conventional autologous CAR-T therapy, including individualized manufacturing, treatment delays, high production costs and challenges extending cell therapy beyond hematological cancers.
SNC103 Emerges as Simnova’s Lead Asset
At the center of Simnova’s pipeline is SNC103, a CD19-targeting, allogeneic CAR-NK therapy designed as an off-the-shelf treatment.
The company has increasingly expanded the program beyond oncology into autoimmune disease, particularly systemic lupus erythematosus (SLE).
According to the Series B announcement, SNC103 achieved a 100% SRI-4 response rate in a Phase 1 study involving patients with moderate-to-severe SLE. Simnova also reports progress in manufacturing, including CAR transduction, expansion and post-thaw cell activity, while saying manufacturing costs have been reduced toward levels associated with conventional biologic therapies. (phirda.com)
The result is particularly important because CD19-directed cell therapy has emerged as one of the most closely watched experimental approaches for severe B-cell-mediated autoimmune diseases.
Rather than relying on patient-specific T-cell manufacturing, SNC103 uses engineered NK cells that can potentially be manufactured in batches, cryopreserved and supplied as an off-the-shelf product.
Simnova plans to initiate a registrational confirmatory clinical study in 2027, according to the financing announcement. The company believes SNC103 could potentially become the first approved universal CAR-NK therapy, although that objective remains dependent on successful clinical development and regulatory review. (phirda.com)
SNC116 Pushes Simnova Into In Vivo CAR-T
Simnova is simultaneously advancing SNC116, an experimental in vivo CAR-T therapy that represents a fundamentally different approach to manufacturing CAR-T cells.
Traditional CAR-T therapy requires T cells to be collected from a patient, genetically modified and expanded at a specialized manufacturing facility, tested, shipped back to the hospital and reinfused.
SNC116 instead uses a lentiviral vector administered directly to the patient to genetically engineer T cells inside the body, potentially eliminating much of the external cell-manufacturing process.
The Chinese Clinical Trial Registry describes SNC116 as an intravenously administered lentiviral-vector product designed to target T cells in vivo and generate CD19-directed CAR-T cells inside the patient. Its CAR construct incorporates 4-1BB costimulatory and CD3ζ signaling domains. (chictr.org.cn)
An exploratory, single-arm study is evaluating SNC116 in patients with relapsed/refractory B-cell non-Hodgkin lymphoma, with planned enrollment of 44 participants. The study is being conducted at the National Cancer Center/Cancer Hospital, Chinese Academy of Medical Sciences and Peking Union Medical College. (chictr.org.cn)
According to Simnova’s financing announcement, early clinical observations have provided encouraging signals regarding efficacy, durability, safety and targeted in vivo delivery, although detailed peer-reviewed clinical data will be needed to assess the candidate’s therapeutic profile.
The Series B proceeds are expected to help move SNC116 toward registrational clinical development. (phirda.com)
Building on an Earlier Partnership With Orna Therapeutics
Simnova’s in vivo cell-therapy strategy also has roots in a collaboration with U.S.-based Orna Therapeutics.
In January 2023, Simnova and Orna announced a strategic collaboration covering the discovery, development and commercialization of RNA-based oncology therapies in Greater China.
Under that agreement, Simnova gained access to selected programs using Orna’s circular RNA (oRNA) and lipid nanoparticle delivery technology, including Orna’s then-lead CD19 in situ CAR program. Simnova was responsible for clinical development, regulatory submissions and commercialization of relevant oncology programs in Greater China. (prnewswire.com)
The relationship expanded in January 2025 to include BCMA-targeted RNA therapeutics. Under the expanded collaboration, Simnova received rights to pursue development and commercialization of BCMA-targeting in vivo panCAR cell therapies in Greater China, while Orna retained rights elsewhere. (prnewswire.com)
That partnership has become more strategically interesting following Eli Lilly and Company‘s move to acquire Orna.
Lilly announced the acquisition in February 2026 for up to $2.4 billion in cash, including an upfront payment and potential clinical-development milestone payments. Orna’s technology combines engineered circular RNA with LNP delivery to generate therapeutic cells directly within patients. (yicai.com)
Lilly subsequently confirmed in its August 2026 second-quarter results that the Orna acquisition had been completed, bringing the company and its technology platform into Lilly. (investor.lilly.com)
Investors Bet on the Next Generation of Cell Therapy
The new Series B financing comes as the cell-therapy field increasingly looks beyond conventional autologous CAR-T toward technologies capable of reducing manufacturing complexity and treatment costs.
Simnova is pursuing that transition from two directions.
Its SNC103 CAR-NK program seeks to make engineered cell therapy available as a cryopreserved, off-the-shelf medicine, while SNC116 aims to move the cell-engineering process directly into the patient’s body.
For autoimmune disease in particular, an off-the-shelf therapy could potentially broaden access if clinical studies demonstrate that it can reproduce the deep B-cell depletion and immune-system resetting being investigated with autologous CAR-T while offering simpler manufacturing and administration.
The nearly RMB 400 million financing gives Simnova additional resources to test that proposition clinically.
The most important milestones to watch will now be the planned 2027 confirmatory study of SNC103, disclosure of more complete clinical data from its SLE program, and the emerging safety and efficacy profile of SNC116 as Simnova attempts to translate in vivo CAR-T technology into a registrational development program.
If successful, Simnova could occupy an unusual position in China’s rapidly evolving cell-therapy sector: simultaneously advancing an off-the-shelf CAR-NK platform and an in vivo CAR-T platform, two approaches that could ultimately shift cell therapy away from today’s highly individualized manufacturing model.
References
- PhIRDA — Simnova completes nearly RMB 400 million Series B financing
- Yicai — Investors back Simnova’s universal CAR-NK platform
- Simnova — Company history and technology overview
- Chinese Clinical Trial Registry — SNC116-101 study registration
- Simnova/Orna — Expanded BCMA RNA therapeutics collaboration
- PR Newswire — Simnova and Orna expand strategic partnership to BCMA-targeted RNA therapeutics
- PR Newswire — Simnova and Orna’s original circular RNA collaboration
- Eli Lilly — Lilly to acquire Orna Therapeutics
- Eli Lilly — Q2 2026 results confirming completion of the Orna acquisition
