The company announced a series B-2 financing of $158m that it plans to use for pivotal Phase II development of TORL-1-23, which it called a first-in-class agent.

Tokyo-based Healios will lead the global clinical studies for Athersys’ cell therapy MultiStem for ARDS and start US Phase II trials for trauma following their long-term collaboration.

As China’s fifth approved CAR-T cell therapy, CARSgen/Huadong’s zevorcabtagene autoleucel is priced at $159,735 for a single infusion. Expanding patient access will become a formidable task for the companies, due to the poor prospects of reimbursement coverage by China’s public medical insurance program. 

Restructuring Edition: The industry emerged from the J.P. Morgan Healthcare Conference feeling renewed confidence about deal-making and financing, but drug developers continue to run short on cash or cut programs and jobs before the money runs out, including Cara, PMV and Ikena.