Singapore, July 1 -- AvenCell Japan, a wholly owned subsidiary of AvenCell Therapeutics, a private, clinical-stage biotechnology company developing best-in-class CAR-T therapies for hematologic cancers and autoimmune diseases, has been awarded a grant of up to $40 million from the Japan Agency for Medical Research and Development (AMED).

This non-dilutive funding will support the worldwide development of AvenCell's AVC203 candidate - an IND-stage, dual-antigen (CD19 & CD20) allogeneic CAR-T therapy for applications in B-cell Lymphomas.

AvenCell's unique and proprietary allogeneic technology is differentiated from numerous previous cell engineering approaches by applying multiple gene editing steps that ensure a patient's immune system (...