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.

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. 

China's Zai Lab and Everest are still pursuing profitability on the commercialization of in-licensed assets, while BioNova and others have already bowed out of the game.

The European biotech is just getting started with its expansion plans for the drug in generalized myasthenia gravis, while multiple readouts in new autoimmune diseases are expected in 2024.