A newly private Novartis partner bags a megaround on its first go to turbocharge CAR-T, cell therapy pipeline

An early forerunner of Chinese biotech’s growing influence globally, Cellular Biomedicine — or CBMG – appeared to be taking two steps backward when it delisted on Nasdaq and went private early this year. But the biotech had its eyes set on the future, and a new megaround of fundraising with big-name backers on board could put its plans back on the right track.