Best Immunotherapy Companies in China
The 121 best Immunotherapy companies in China in 2026, ranked by funding and momentum. Funding, investors, founders, valuation, tech stack and live signals. Top: Innovent Bio.
China's immunotherapy sector has $7.7 billion in disclosed funding spread across 121 tracked companies, and if you're trying to locate where that capital is concentrating, this directory ranks them by equity raised and recent funding momentum. The global market sat at roughly $13.8 billion in 2021 and is compounding at 13.8% annually, driven by rising autoimmune disease prevalence and accelerating cancer research investment. D3 Bio leads our list at $262 million raised, with OriCell Therapeutics close behind at $170 million and Adagene at $157 million. Hillhouse and Qiming Venture Partners are the most active backers, which tells you something about conviction at the top end.
Hot themes this quarter are T-cell lymphoma, checkpoint inhibitors, and cancer vaccines. As shown in 2017 research, the mechanistic case for combination immunotherapy approaches keeps strengthening, and that's feeding deal flow right now. Gene therapy paired with immunotherapy is drawing particular attention for hard-to-treat cancers. I'd note that regulatory friction remains real here: strict government policy frameworks in parts of the region can slow clinical timelines, which is why funding momentum, not just total raised, matters when you're sorting through the 121 names below.
- ResearchAndMarkets.com
- The Business Research Company
Our analysis of 50 Immunotherapy companies
$8.8b in tracked funding; 69% of the stack-profiled cohort runs cloud-native; funding activity peaked in 2025.
Ranked: Best Immunotherapy companies in China
| # | Company | Disclosed funding | Last round | Stage | Employees | Founded | Founder | Market signals (1y) | Patents & IP focus | Recent signals |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Innovent Bio Developer of antibody therapeutics for multiple diseases | $535M | 46 mo ago | Public | 5,144 | 2011 | Michael Yu Founder & CEO | 9 signals ▼55% Regulatory · Earnings · Funding | — | 1 partnership |
| 2 | CStone Pharma Developing and licensing novel drugs for diseases including cancer and autoimmune diseases | $410M | 68 mo ago | Public | 476 | 2016 | — | — | — | 1 partnership |
| 3 | Tianjing Biological Developer of immuno-oncology drugs for treating cancer and autoimmune diseases 55Funding top 21%Market top 41%Moat top 48%Talent bottom 49% All 7 signals ▾Fundingtop 21% Markettop 41% Moattop 48% Talentbottom 49% Globalbottom 46% Techbottom 45% Newsbottom 21% Funding: Raised $380M across 5 rounds · 5 rounds over 9 yrs (0.6/yr) Market: 318 employees (top 5% of Life Sciences) · Top-10,000,000 web property rank vs industry peers · Fliar Intelligence Index 55/100 | $380M | 28 mo ago | Public | 318 | 2014 | Yan Jingwu Chairman & CEO | — | — | — |
| 4 | Harbour BioMed Developer of antibody therapeutics in immunology and oncology disease | $313M | 71 mo ago | Public | 167 | 2016 | Jingsong Wang Founder | 8 signals ▼27% Leadership · Earnings · M&A | 241 patents Bispecific antibody therapeutics targeting immune checkpoints and tumor antigens | 2 launchs · 1 partnership |
| 5 | Hualan Bioengineering Chinese vaccine and blood products manufacturer | $293M | 69 mo ago | Public | 3,243 | 1992 | Jingsong Wang Founder & CEO | — | — | — |
| 6 | CARsgen Developer of CAR-T cell therapies for the treatment of hematological malignancies and solid tumors | $276M | 67 mo ago | Public | 525 | 2014 | Huamao Wang Co-Founder & COO | — | — | — |
| 7 | Abbisko Therapeutics Developing novel small molecule drugs for immunomodulatory pathways to treat cancer | $263M | 65 mo ago | Public | 252 | 2016 | — | — | 309 patents Small-molecule kinase inhibitor drugs targeting FGFR4, CSF‑1R, CDK, CD73, PARP for cancer therapy | — |
| 8 | D3 Bio Developer novel therapeutics for cancer 40Funding top 20%Growth top 35%Talent bottom 49%Moat bottom 48% All 7 signals ▾Fundingtop 20% Growthtop 35% Talentbottom 49% Moatbottom 48% Techbottom 40% Globalbottom 38% Marketbottom 28% Funding: Raised $262M across 3 rounds · 3 rounds over 6 yrs (0.5/yr) Growth: Fresh capital in last 24 mo rank vs industry peers · Fliar Intelligence Index 40/100 | $262M | 6 mo ago | Series B | — | 2018 | George Chen Founder & CEO | — | — | — |
| 9 | Elpiscience Developer of checkpoint inhibitors for the treatment of cancer | $260M | 61 mo ago | Series C | 150 | 2017 | — | — | — | — |
| 10 | Adlai Nortye Developer of immune oncolytic therapies for treating cancer | $253M | 59 mo ago | Public | 27 27 → 63 (+133%) | 2014 | Carsten Lu Founder & ceo | 4 signals Funding · Earnings | 190 patents Targeted oncology therapeutics: small‑molecule degraders, kinase inhibitors, and antibody‑drug conjugates | — |
| 11 | EpimAb Biotherapeutics Bispecific antibody therapies using its proprietary FIT-Ig platform | $219M | 62 mo ago | Series C | 49 | 2015 | — | — | 123 patents Bispecific antibody therapeutics targeting immune checkpoints and tumor antigens | — |
| 12 | Genor Biopharma Developer of biosimilar monoclonal antibodies for treating multiple diseases | $216M | 72 mo ago | Public | 222 | 2007 | — | — | 45 patents Bispecific/trispecific immune‑checkpoint antibodies for cancer immunotherapy | — |
| 13 | Beijing Mabworks Biotech Developer of anticancer therapies | $214M | 74 mo ago | Series C | 285 | 2003 | — | — | — | — |
| 14 | Kelun Biotech Developer of therapeutics for cancer treatment | $200M | 41 mo ago | Public | 1,309 | 2016 | Junyou Ge CEO | — | 691 patents Developing antibody-drug conjugates and small-molecule oncology therapeutics. | — |
| 15 | JW Therapeutics Developer of cell immunotherapy products for cancer treatment | $200M | 71 mo ago | Public | 490 | 2016 | James Li Co-Founder & CEO | — | 34 patents Small‑molecule KRAS G12C and EGFR inhibitors for targeted cancer therapy | — |
| 16 | Gracell Bio Developer of CAR T cell therapies for the treatment of cancer | $195M | 34 mo ago | Acquired | 9 | 2017 | Wei Cao Founder & CEO | — | — | — |
| 17 | KeyMed Biosciences Developer of antibody-based therapeutics for cancer and autoimmune diseases | $190M | 47 mo ago | Public | 750 | 2016 | Bo Chen CEO | — | 101 patents Patents concentrated in health & consumer products | — |
| 18 | Canbridge Life Sciences Developer of therapeutics for rare diseases and cancer | $186M | 60 mo ago | Public | 17 | 2012 | — | — | — | — |
| 19 | OriCell Therapeutics Developer of immuno-therapeutics for cancer treatment 72Funding top 16%Patents top 27%Moat top 28%Innovation top 34% All 8 signals ▾Fundingtop 16% Patentstop 27% Moattop 28% Innovationtop 34% Newstop 36% Markettop 37% Talentbottom 49% Globalbottom 43% Funding: Raised $170M across 4 rounds · 4 rounds over 4 yrs (1.0/yr) Patents: 56 patents matched (strict assignee match) · 55 filings since 2022 vs 1 in 2017-21 rank vs industry peers · Fliar Intelligence Index 72/100 | $170M | 2 mo ago | Series D | 150 | 2015 | He Xiaowen Co-Founder | 3 signals Funding | 56 patents Patents concentrated in health & consumer products | — |
| 20 | Alphamab Oncology 🦄 Developer of antibodies for the treatment of cancer diseases | $160M | 84 mo ago | Public | 31 | 2009 | — | — | — | — |
| 21 | Zai Lab Developer of drugs for anti-cancer and anti-inflammatory diseases | $160M | 107 mo ago | Public | 2,036 | 2013 | — | — | — | — |
| 22 | Binhui Bio Developer of oncolytic virus-based drugs | $158M | 49 mo ago | Series C | — | 2010 | Liu Binlei Founder & CEO | — | — | — |
| 23 | Adagene Developer of immunotherapy for the treatment of cancer 37Funding top 18%Product top 24%Moat top 38%Tech top 42% All 12 signals ▾Fundingtop 18% Producttop 24% Moattop 38% Techtop 42% Globaltop 43% Partnerstop 45% Patentstop 46% Talentbottom 49% Growthbottom 42% Innovationbottom 38% Marketbottom 36% Newsbottom 23% Funding: Raised $157M across 5 rounds · 5 rounds over 12 yrs (0.4/yr) Product: 2 distinct product lines · Company stage: Public rank vs industry peers · Fliar Intelligence Index 37/100 | $157M | 11 mo ago | Public | 15 | 2012 | Peter Luo Founder & CEO | — | 26 patents Antibody library engineering and heterodimeric Fc protein therapeutics for cancer treatment | — |
| 24 | TYK Medicines Developer of drugs for the treatment of cancer | $154M | 29 mo ago | Public | 100 | 2018 | Wu Yusheng Founder & CEO | — | 164 patents Patents concentrated in chemistry & materials | — |
| 25 | Legend Biotechnology Developer of cell therapy to treat cancer and infectious diseases | $150M | 38 mo ago | Public | 1,576 | 2014 | Yuan Xu CEO | 18 signals Announcements · Earnings · Leadership | — | — |
| 26 | ImmuneOnco Biopharmaceuticals Developer of therapeutic solutions for treating cancer | $146M | 62 mo ago | Public | 152 | 2015 | Tian Wenzhi Founder & CEO | — | 74 patents Designing recombinant fusion proteins and antibodies for immune‑checkpoint and tumor‑antigen targeting | — |
| 27 | MediLink Developer of antibody-drug conjugates for cancer treatment | $120M | 51 mo ago | Series B | 49 49 → 60 (+22%) | 2020 | Jiaqiang Cai Co-Founder & CSO | — | — | — |
| 28 | Duality Biologics Developer of ADC therapeutics to treat cancer and autoimmune diseases | $120M | 61 mo ago | Public | — | 2020 | John Zhu Founder&Ceo | — | 136 patents Bispecific antibody‑drug conjugates and targeted therapeutic antibodies for oncology. | 1 job opening |
| 29 | CanSino Biologics Developer of vaccines for the treatment of infectious diseases | $107M | 31 mo ago | Public | 2,291 | 2009 | Helen Mao Co-Founder | — | 115 patents Adenoviral vector vaccines and inhalable nucleic‑acid lipid nanoparticle delivery systems | — |
| 30 | Innovative Cellular Therapeutics Developer of CAR-T cell therapies for blood cancers and solid tumors | $97M | 57 mo ago | Series C | 14 | 2009 | Lei Xiao CEO | — | 73 patents Engineered immune cells for adoptive cell therapy targeting tumor antigens | — |
| 31 | MAXVAX Biotechnology Developer of vaccines for infectious diseases 57Funding top 22%Market top 40%Moat top 42%Talent bottom 49% All 5 signals ▾Fundingtop 22% Markettop 40% Moattop 42% Talentbottom 49% Globalbottom 36% Funding: Raised $84.8M across 3 rounds · 3 rounds over 8 yrs (0.4/yr) Market: 100 employees (top 20% of Life Sciences) rank vs industry peers · Fliar Intelligence Index 57/100 | $85M | 6 mo ago | Series D | 100 | 2016 | Dexiang Chen Founder | — | — | — |
| 32 | Inxmed Developer of treatments for drug resistance and metastases in solid tumors | $84M | 47 mo ago | Series B | 50 | 2018 | Francis Cao Co-Founder | — | — | — |
| 33 | Biosion Developer of antibody-based therapeutics to treat various diseases | $76M | 37 mo ago | Series B | 90 | 2017 | Mingjiu Chen Founder & Chairman &CEO | — | 131 patents Therapeutic antibodies and fusion proteins for immune checkpoint and tumor antigen targeting | 1 launch |
| 34 | GRIT Biotechnology Developer of cell therapy to treat solid tumours | $75M | 33 mo ago | Series B | — | 2020 | Liu Yarong Founder & CEO | — | 56 patents Engineered immune cell therapies and multispecific biologics for cancer immunotherapy | — |
| 35 | Luzhu Biotech Developer of human vaccines and biological drugs for multiple diseases | $73M | 47 mo ago | Public | 129 | 2001 | Jian Kong CEO | — | — | — |
| 36 | Trinomab Developer of immunotherapeutics for multiple diseases | $69M | 61 mo ago | Series A | 48 | 2015 | Zheng Weihong CEO | — | — | — |
| 37 | Novocodex Biopharmaceuticals Developer of antibodies for treating cancer | $61M | 63 mo ago | Series A | 104 | 2017 | Wang Yongzhong CEO | — | 25 patents Site-specific incorporation of unnatural amino acids into therapeutic proteins and conjugates | — |
| 38 | Phrontline Biopharma Developer of therapeutics for various diseases 64Talent top 28%Funding top 29%Global bottom 48% All 3 signals ▾Talenttop 28% Fundingtop 29% Globalbottom 48% Talent: 3 named leaders on record · 3 C-suite/founder profiles curated Funding: Raised $60.0M across 1 rounds · 1 rounds over 1 yrs (1.0/yr) rank vs industry peers · Fliar Intelligence Index 64/100 | $60M | 6 mo ago | Seed | — | 2022 | Siyi Hu Co-Founder | — | — | — |
| 39 | Thermona Developer of RNA technology-based drugs to address various diseases | $60M | 48 mo ago | Series A | — | 2021 | Wei Wensheng Founder | — | — | — |
| 40 | NUTSHELL Developer of small molecule-based therapeutic solutions for the treatment of cancer | $60M | 51 mo ago | Series A | — | 2009 | Zhengtian Yu Co-Founder & CTO | — | — | — |
| 41 | TCRCure Biopharma Developer of cell therapies to treat cancer | $47M | 52 mo ago | Series B | 70 | 2016 | — | — | 51 patents Engineered immune cell therapies with synthetic cytokine signaling and checkpoint antibodies | — |
| 42 | Huaxia Yingtai Biotechnology Developer of CAR-T cell therapies for treating cancer | $38M | 56 mo ago | Series B | — | 2018 | Lin Xin Founder | — | — | — |
| 43 | Wuhan YZY Biopharma Developer of bi-specific antibodies for cancer treatment | $30M | 47 mo ago | Public | 129 | 2010 | — | — | — | — |
| 44 | Hebei Senlang Biotechnology Developer of CAR-T cell based immunotherapy for cancer | $30M | 49 mo ago | Acquired | 160 | 2017 | — | — | 21 patents Nanobody-based CAR‑T immunotherapies targeting CD7, BCMA, and CLDN18.2 for cancer treatment | — |
| 45 | Biomissile Developer of multi-specific therapeutic antibodies to treat a wide range of diseases | $29M | 37 mo ago | Series B | — | 2020 | Tianlei Ying Co-Founder | — | — | — |
| 46 | Conjustar Developer of drug conjugates for the treatment of cancer | $28M | 28 mo ago | Seed | — | 2022 | Shuyi Tang CEO | — | — | — |
| 47 | Hongyun Biotech Provider of therapeutics solution for the treatment of cancer and other rare diseases | $16M | 37 mo ago | Series B | — | 2018 | Xin Huang CEO | — | — | — |
| 48 | Nk-Celltech Provider of immuno-oncologic drugs for cancer 40Market top 45%Funding top 46%Global bottom 38% All 3 signals ▾Markettop 45% Fundingtop 46% Globalbottom 38% Market: 60 employees (top 31% of Life Sciences) Funding: Raised $14.9M across 2 rounds · 2 rounds over 4 yrs (0.5/yr) rank vs industry peers · Fliar Intelligence Index 40/100 | $15M | 11 mo ago | Series A | 60 | 2020 | — | — | — | — |
| 49 | CANWELL BIOTECH Developer of immunotherapies for cancer | $15M | 46 mo ago | Series A | — | 2018 | Henry Yu CEO | — | — | — |
| 50 | Immuno Cure Developer of DNA vaccines and immunotherapies for multiple disorders | $12M | 34 mo ago | Series A | — | 2015 | Percy Cheng Co-Founder | — | — | — |
Top 12 Immunotherapy companies in China
#1
Series D · Pudong, Shanghai · founded 2015 · 150 employees$170Mraised▾
Developer of immuno-therapeutics for cancer treatment. It offers CAR-T- based therapies and antibodies for the treatment of liver cancer, ovarian cancer, gastric cancer, cervical cancer, non-small cell lung cancer, and others.
- Apr 2026Series D$110M
- Jan 2026Series C$70M
- Feb 2023Series B$45M
- Aug 2022Series B$125M
#2
Series B · Shanghai, Shanghai · founded 2018$262Mraised▾
Developer novel therapeutics for cancer. The company is focusing on developing innovative medicines in oncology and immunology. The company's pipeline include D3S-001 for the treatment of advanced unresectable or metastatic colorectal cancers.
- Dec 2025Series B$108M
- Apr 2024Series A$62M
- Nov 2020Series A$200M
#3
Series D · Lanzhou, Gansu · founded 2016 · 100 employees$84.8Mraised▾
Developer of vaccines for infectious diseases. It offers an adjuvant platform, recombinant protein expression platform, and mRNA platform for developing preventive and therapeutic vaccines for influenza vaccine, rabies vaccine, rotavirus vaccine, and herpes zoster vaccine.
- Dec 2025Series D—
- Jul 2024Series C$41.3M
- Feb 2024Series C$41.9M
- Jul 2022Series B—
#4
Public · Suzhou, Jiangsu · founded 2012 · 15 employees$157.4Mraised▾
Developer of immunotherapy for the treatment of cancer. It is developing antibodies which include ADG106 which is an agonist for CD137 in metastatic solid tumors, ADG126 targets CTLA4 for cancer therapy, and aADG116 targets epitope of CTLA4 in metastatic solid tumors and relapsed/refractory non-Hodgkin’s lymphoma.
- Jul 2025Post IPO$25M
- Jan 2020Series D$69M
- Mar 2018Series C$50M
- Jan 2016Series B$28M
#5
Seed · Pudong, Shanghai · founded 2022$60Mraised▾
Developer of therapeutics for various diseases. It offers a proprietary dual linker payload ADCs that are delivered to and concentrated in the tumor microenvironment, and bispecific dual payload ADCs that have the benefits of dual targeting that dilever two different MOA of payloads to cancel cells simultaneously.
- Nov 2025Seed$60M
#6
Series A · Pudong, Shanghai · founded 2020 · 60 employees$14.9Mraised▾
Provider of NK cell therapy for treating cancer, cellular drugs to precisely target of tumors and tumor immune microenvironment (TIME)
- Jul 2025Series A$13.9M
- Jul 2022Series A$14.9M
#7
Public · Shanghai, Shanghai · founded 2014 · 318 employees$380Mraised▾
Developer of immuno-oncology drugs for treating cancer and autoimmune diseases. The company has developed an in-house platform to generate monoclonal antibodies through hybridoma and phage display technologies. The company's product line include Olamkicept used for treating ulcerative colitis, TJ202 for Multiple myeloma / Autoimmune diseases, TJ101 for pediatric growth hormone deficiency, TJ301 for Ulcerative colitis / Auto-immune disease, Enoblituzumab for T cell activation combined with tumor-killing, etc.
- Feb 2024Post IPO$69.9M
- Sep 2020Post IPO$418M
- Jun 2018Series C$220M
- Mar 2017Series B$150M
#8
Public · Xuhui, Shanghai · founded 2018 · 100 employees$153.6Mraised▾
Developer of drugs for the treatment of cancer. The company's products include TY-9591 is used to treat brain metastasis, TY-302 is used to treat solid tumours and ovarian cancer, TY-2136 is used for NSCLC, and TY-1036 is for MTC and NSCLC. These drugs can also be used with the combination of other drugs to treat cancer and other solid tumours.
- Dec 2023Series D—
- Jan 2022Series C$51.7M
- May 2021Series B$62.1M
- Dec 2020Series B$39.8M
#9
Public · Suzhou, Jiangsu · founded 2011 · 5144 employees$535Mraised▾
Developer of antibody therapeutics for multiple diseases. It offers monoclonal and bispecific antibodies to treat several cancers such as non-Hodgkin Lymphoma, Chronic Lymphocytic Leukemia, colorectal cancer, and lung cancer. Also, has antibody binding to TNF-α preventing it from activating TNF receptors, and will be used to treat Rheumatoid Arthritis, Psoriatic Arthritis, Ankylosing Spondylitis, Crohn’s disease, and other autoimmune diseases.
- Aug 2022Post IPO$307.9M
- Oct 2019Post IPO$299.8M
- Apr 2018Series E$150M
- Nov 2016Series D$260M
#10
Acquired · Shanghai, Shanghai · founded 2017 · 9 employees$195.2Mraised▾
Developer of CAR T cell therapies for the treatment of cancer. The company has developed a gene-editing platform to produce multiplex CAR T cell therapies such as FasTCAR, TruUCAR, and Donor-derived CAR for multiple myeloma, lymphoma, and leukemia. The company is also working on a combination of CAR-T with co-stimulatory factors.
- Aug 2023Post IPO—
- Oct 2020Series C$100M
- Feb 2019Series B$85M
- Sep 2018Series A$10.2M
#11
Public · Tianjin, Tianjin · founded 2009 · 2291 employees$107.4Mraised▾
Developer of vaccines for the treatment of infectious diseases. It is specialized in developing and manufacturing a series of vaccine products, including pneumonia protein vaccines, pertussis vaccines, and recombined tuberculosis vaccines.
- Oct 2023Post IPO$2M
- Apr 2017Series C$65.4M
- Oct 2015Series B$30M
- Sep 2013Series A$10M
#12
Public · Nanjing, Jiangsu · founded 2014 · 1576 employees$150.4Mraised▾
Developer of cell therapy to treat cancer and infectious diseases. The company focused on developing CAR-T cell therapies for hematologic malignancies, solid tumors, and infectious diseases.
- Apr 2023Post IPO$200M
- Mar 2020Series D$150.4M
Funding & investor landscape
Notable founders
Market landscape — 10 sub-themes by coverage
Share of Immunotherapy coverage by sub-theme.
Regulatory-risk over time rising
Funding & growth over time
funding rising · growth rising
Common questions
Rohit lives in the feed. He covers what's moving right now — the funding rounds, launches and shifts breaking across the trade press — and ties them back to where the sector is heading.