China TCR T Biotech NewCure Secures Fresh Funding for Solid Tumor Push
China’s cell therapy sector is drawing renewed investor interest as NewCure Biotech raised more than 200 million yuan, or about $28 million, in a Series B financing round to accelerate development of its TCR T pipeline targeting solid tumors. The round was co led by Xingze Capital alongside an undisclosed industry backed fund, underscoring growing confidence in next generation immunotherapies despite a more cautious funding environment for biotech. Capital is increasingly flowing toward companies that can demonstrate differentiated platforms and early clinical progress, particularly in oncology. For China, the deal highlights sustained ambition to move beyond generics and biosimilars into high value innovative therapies that can compete globally and address unmet medical needs.
Founded in 2020 and based in Suzhou, NewCure is focused on T cell receptor engineered therapies designed to overcome the long standing difficulty of treating solid tumors with cell based approaches. Unlike CAR T therapies, which have shown strong efficacy mainly in blood cancers, TCR T cells can target intracellular antigens presented on tumor cells, opening a broader range of indications. NewCure says several of its programs have already entered clinical testing, supported by a proprietary platform that integrates antigen discovery with natural TCR screening. This technology aims to improve specificity and safety, two of the main hurdles that have slowed TCR T development worldwide.
The company’s lead candidate, NW 101C, targets PRAME, a cancer testis antigen expressed across multiple solid tumors but limited in normal tissues. NewCure says the therapy is the first China developed TCR T product against PRAME to advance into clinical trials. The asset is currently being evaluated in a Phase I registrational study across a range of late stage solid tumors, including ovarian cancer, melanoma and triple negative breast cancer. Early stage clinical progress is critical for TCR T developers, as investors and regulators look for evidence that these therapies can deliver durable responses without unacceptable toxicity in complex tumor environments.
The financing comes as competition intensifies among Chinese biotech firms seeking leadership in cell and gene therapies, an area Beijing has identified as strategically important. While global markets have become more selective, companies with credible science and clinical momentum continue to attract capital. NewCure said the proceeds will be used to advance clinical development, expand its pipeline and strengthen manufacturing capabilities. If successful, the company could join a small group of Chinese innovators pushing the frontier of solid tumor immunotherapy. The deal also reflects a broader trend of domestic investors backing homegrown platforms with potential global relevance, even as exit timelines lengthen and regulatory scrutiny increases.
