Cell Therapy Startup Bay Island Cell Raises RMB 140 Million in Series A

Bay Island Cell, a biotech company founded by former Legend Biotech founder and chief scientific officer Fan Xiaohu, has completed a RMB 140 million Series A financing round led by Shenzhen Capital Group, with CoStone Capital participating, according to 36Kr. The report said Fan left Legend Biotech less than a month after its CAR-T therapy ciltacabtagene autoleucel was approved in the U.S. and later founded Bay Island Cell. Legend Biotech parent GenScript sued Fan over alleged trade secret infringement, but China’s Supreme People’s Court rejected all of GenScript’s claims in a final ruling in late 2025. Fan said Bay Island Cell has disclosed early human data at the American Society of Clinical Oncology (ASCO) annual meeting for its non-gene-editing universal CAR-T platform and is pursuing additional fundraising to support upcoming clinical trials.