All the funding deals in the cell therapy market
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In our cell therapy market deck, you will find everything you need to understand the market
We tracked 72 cell therapy funding deals from 2023 to early 2026, covering a wide range of approaches from CAR-T and TCR-T to iPSC-derived therapies and in vivo cell engineering.
We refresh this page every quarter to keep it current with the latest cell therapy fundraising activity.
And if you want to better understand this new industry, you should get our beautiful slides covering the cell therapy market.
Insights
- In vivo CAR-T is becoming a major cell therapy investment theme: at least six companies (Azalea, Umoja, Stylus, MagicRNA, Vyriad, DeliNova) raised funding in 2025 alone, aiming to engineer immune cells directly inside patients' bodies.
- Autoimmune diseases are the fastest-growing new indication for cell therapy startups. Kyverna Therapeutics alone raised across three separate rounds between 2023 and 2024, culminating in a $319M IPO, all focused on CAR-T for lupus and similar conditions.
- Solid tumors remain the single biggest target for cell therapy funding deals. More than half of all rounds tracked since 2023 involve companies working on solid tumor treatments, reflecting the unmet need in this area.
- The median cell therapy funding round in 2025 sits around $50M, roughly double the median from 2023, showing growing investor confidence in the cell therapy market.
- Logic-gated CAR-T therapies attracted over $200M in combined funding in late 2024 and 2025, with both A2 Biotherapeutics and Link Cell Therapies developing systems that distinguish tumor cells from healthy tissue.
- Allogeneic (off-the-shelf) cell therapies represent a growing share of cell therapy deals, with companies like Wugen ($115M), Artiva ($167M), and Dispatch Bio ($216M) raising large rounds to eliminate the need for patient-specific manufacturing.
- iPSC-derived cell therapy is expanding well beyond oncology. Companies like Aspen Neuroscience (Parkinson's), Neurona Therapeutics (epilepsy), and Heartseed (heart failure) raised significant rounds for non-cancer applications.
- Autolus Therapeutics raised the single largest round in the dataset at $550M in Q1 2024, underscoring that next-generation CAR-T for blood cancers still commands the biggest checks in cell therapy funding.

In our cell therapy market deck, we show you long-term trends so you can make better decisions
Summary table of the funding deals for the cell therapy market since 2023
We define the cell therapy market as the market for cell-based medicinal products used as drugs to treat disease, including both approved products and major late-stage pipeline therapies.
We include living-cell products such as CAR-T, other engineered immune cells, and non-oncology cell-based drugs, along with their direct clinical use and revenue.
We exclude procedures like standard stem-cell transplants, simple minimally manipulated cell preparations used in surgery, and generic tools or equipment that are not specific to these therapies.
We focused exclusively on pure players, defined as companies with at least 70-80% of their business directly tied to the cell therapy market.
Our analysis has been done at a global level with a minimum funding threshold of $300k.
You can also read our detailed analysis to understand how funding activity in the cell therapy market has evolved recently.
If you want a longer-term view, we also have a study of how funding activity in the cell therapy market has changed over the years.
Also, you should know that we have a dedicated page, updated weekly, with all the latest fundraising deals in the cell therapy market.
| Name | What they do | Amount in $ | Quarter | Source(s) |
|---|---|---|---|---|
| Link Cell Therapies | Develops logic-gated CAR-T therapies for solid and liquid cancers with enhanced specificity. | $60M | Q4 2025 | PRNewswire, FierceBiotech |
| Vyriad | Develops in vivo CAR-T by delivering CAR genetic payloads directly using viral vectors. | $25M | Q4 2025 | Business Wire |
| Captain T Cell | Develops next-generation TCR-T cell therapies for solid tumors. | ~$21.7M | Q4 2025 | Company |
| Aspen Neuroscience | Develops autologous iPSC-derived neuron therapies for Parkinson's disease. | $115M | Q4 2025 | PRNewswire, BioSpace |
| Azalea Therapeutics | Develops in vivo CRISPR-based CAR-T therapies for cancer and autoimmune diseases. | $82M | Q4 2025 | GlobeNewswire, FierceBiotech |
| Tr1X | Develops allogeneic Treg and CAR-Treg cell therapies for autoimmune diseases. | $50M | Q4 2025 | GlobeNewswire, BioSpace |
| Pan Cancer T | Develops TCR-T cell therapies targeting novel tumor antigens for solid tumors. | $5.25M | Q4 2025 | Company, GlobeNewswire |
| T-CURX | Develops non-viral CAR-T therapies using transposon technology for AML and solid tumors. | $19.2M | Q4 2025 | EU-Startups |
| DeliNova Therapeutics | Develops in vivo CAR-T by delivering genetic payloads to program immune cells inside the body. | ~$8.3M | Q4 2025 | FLCube |
| Dispatch Bio | Builds universal solid tumor immunotherapies using CAR-T and a tumor-tagging Flare platform. | $216M | Q3 2025 | Company, FierceBiotech |
| Wugen | Develops allogeneic, off-the-shelf CAR-T therapies for T-cell malignancies. | $115M | Q3 2025 | Company, BioPharmaDive |
| Stylus Medicine | Develops in vivo genetic medicines to engineer immune cells directly in patients. | $85M | Q2 2025 | Stylus PR |
| Innovacell | Develops autologous cell therapies using expanded muscle cells for incontinence. | $52M | Q3 2025 | HappinessCapital, TheBridge |
| Anocca | Develops gene-edited TCR-T cell therapies targeting mutant KRAS in solid tumors. | ~$46M | Q3 2025 | FinancialContent |
| iRegene Therapeutics | Develops iPSC-derived cell therapies for neurodegenerative diseases. | ~$40M | Q3 2025 | MedPath |
| Rui Therapeutics | Develops CAR-NK, CAR-gamma-delta-T, and universal CAR-T for autoimmune diseases. | $28M | Q3 2025 | MarketScreener, OncoDaily |
| A-Seeds | Develops non-viral gene-modified CAR-T using PiggyBac transposon technology for solid tumors. | ~$15M | Q3 2025 | Company |
| MagicRNA Biotech | Develops in vivo CAR-T therapies using LNP-delivered mRNA for autoimmune diseases. | $14M | Q3 2025 | Company |
| NK CellTech | Develops engineered NK cell therapies for cancer. | ~$14M | Q3 2025 | The Pharma Letter |
| Neurona Therapeutics | Develops allogeneic iPSC-derived neural cell therapies for epilepsy. | $102M | Q2 2025 | Company, FierceBiotech |
| Umoja Biopharma | Develops in vivo CAR-T therapies using lentiviral vectors to engineer T cells inside patients. | $100M | Q1 2025 | GlobeNewswire, FierceBiotech |
| A2 Biotherapeutics | Develops logic-gated CAR-T cell therapies for solid tumors using the Tmod platform. | $80M | Q1 2025 | Company, BioSpace |
| Garuda Therapeutics (Stratus) | Develops off-the-shelf allogeneic hematopoietic stem cell therapies for blood disorders. | $50M | Q1 2025 | GlobeNewswire, BioSpace |
| Inceptor Bio | Develops metabolically enhanced CAR-T therapies for solid tumors using the OUTLAST platform. | $21M | Q1 2025 | Company, NCBiotech |
| Optieum Biotechnologies | Develops next-generation CAR-T therapies for solid tumors using the Eumbody System platform. | $8.6M | Q1 2025 | Company |
| ONGeno | Develops autologous bone marrow stem cell therapy for multiple sclerosis. | $3.6M | Q1 2025 | AIN.ua, PolandDaily24 |
| HemaCell | Develops iPSC-derived platelet therapies for hematological disorders and transfusion. | $2.8M | Q1 2025 | BioPharmIQ |
| StemSight | Develops iPSC-derived corneal stem cell therapies to restore vision in corneal blindness. | $1.1M | Q1 2025 | EU-Startups |
| AvenCell Therapeutics | Develops switchable CAR-T therapies for improved control and safety in cancer treatment. | $112M | Q4 2024 | Company, PRNewswire |
| Resolution Therapeutics | Develops engineered macrophage cell therapies for inflammatory and fibrotic diseases. | $85M | Q4 2024 | PRNewswire, Labiotech |
| Be Biopharma | Engineers B cells to produce therapeutic proteins for rare diseases. | $82M | Q4 2024 | Business Wire, BioSpace |
| TScan Therapeutics | Develops TCR-engineered T cell therapies for blood cancers and solid tumors. | $30M | Q4 2024 | Source |
| March Biosciences | Develops autologous CD5 CAR-T therapy for relapsed/refractory T-cell lymphoma. | $28.4M | Q4 2024 | GlobeNewswire |
| Indapta Therapeutics | Develops allogeneic NK cell therapies for cancer and autoimmune diseases. | $22.5M | Q4 2024 | Business Wire, FinSMEs |
| Cartherics | Develops iPSC-derived allogeneic CAR-NK cell therapies for cancer. | $9.8M | Q4 2024 | Company |
| ArsenalBio | Engineers programmable CAR-T cell therapies for solid tumors using advanced T cell engineering. | $325M | Q3 2024 | BioPharmaDive, DDW |
| Artiva Biotherapeutics | Develops allogeneic, off-the-shelf NK cell therapies for autoimmune diseases and cancers. | $167M | Q3 2024 | GlobeNewswire, FierceBiotech |
| Outpace Bio | Uses AI-powered protein design to program immune cells for solid tumor therapies. | $144M | Q3 2024 | GlobeNewswire, Endpoints |
| GC Therapeutics (GCTx) | Develops iPSC-derived cell therapies using rapid TFome platform for multiple diseases. | $65M | Q3 2024 | Pharma Technology |
| LIfT BioSciences | Develops allogeneic innate cell therapies using engineered neutrophils for solid tumors. | $12.7M | Q3 2024 | GlobeNewswire |
| TC Biopharm | Develops allogeneic gamma-delta T cell therapies for cancer, including AML. | $8M | Q3 2024 | Company |
| Cell BioEngines | Develops allogeneic stem cell-derived therapies for blood cancers using umbilical cord cells. | $2M | Q3 2024 | GlobeNewswire |
| Obsidian Therapeutics | Develops engineered cell therapies with precise protein expression control for cancer. | $160.5M | Q2 2024 | Company, Business Wire |
| Century Therapeutics | Develops iPSC-derived NK and T cell therapies for cancer and autoimmune diseases. | $60M | Q2 2024 | GlobeNewswire, BioPharmaDive |
| OverT Bio | Develops cell therapies for solid tumors using genetic screening and synthetic biology. | $16M | Q2 2024 | FinSMEs |
| Captain T Cell GmbH | Develops efficacy-enhanced TCR-T cell therapies for solid tumors using TCR-ALLO platform. | $9.2M | Q2 2024 | GlobeNewswire, MDC Berlin |
| Autolus Therapeutics | Develops next-generation CAR-T cell therapies for leukemia, lymphoma, and autoimmune diseases. | $550M | Q1 2024 | Company, Business Wire |
| Kyverna Therapeutics | Develops CD19-directed CAR-T cell therapies for autoimmune diseases (IPO). | $319M | Q1 2024 | BioPharmaDive, FierceBiotech |
| Capstan Therapeutics | Develops in vivo CAR-T therapies using targeted lipid nanoparticles for autoimmune disorders. | $175M | Q1 2024 | Business Wire, BioPharmaDive |
| Neurona Therapeutics | Develops regenerative, off-the-shelf cell therapies for chronic neurological disorders. | $120M | Q1 2024 | GlobeNewswire, BioPharmaDive |
| Kenai Therapeutics | Develops allogeneic neuron replacement cell therapies for neurological disorders. | $82M | Q1 2024 | Business Wire, FinSMEs |
| Tr1X, Inc. | Develops universal allogeneic Treg and CAR-Treg cell therapies for autoimmune diseases. | $75M | Q1 2024 | PRNewswire, BioSpace |
| Mesoblast | Develops allogeneic mesenchymal stromal cell therapies for inflammatory diseases. | $63M | Q1 2024 | GlobeNewswire, Nasdaq |
| Asgard Therapeutics | Develops in vivo cell reprogramming immunotherapies for cancer using TrojanDC platform. | $32.8M | Q1 2024 | Company, Labiotech |
| T-Therapeutics | Develops TCR-T cell therapy using OpTiMus transgenic mouse platform for cancer. | $59M | Q4 2023 | Labiotech, Company |
| ImmuneBridge | Develops CAR-NK cell therapy using cord blood-derived immune stem cells for cancer. | $12M | Q4 2023 | Labiotech |
| Celyad Oncology | Develops NKG2D-based CAR-T for hematological malignancies and solid tumors. | $10.58M | Q3-Q4 2023 | Company |
| Kyverna Therapeutics | Develops CD19 CAR-T for autoimmune diseases like lupus and MS. | $60M | Q3 2023 | PRNewswire, BioPharmaDive |
| Grit Biotechnology | Develops engineered TIL therapy using StemTexp platform for solid tumors. | $60M | Q3 2023 | DDW, Endpoints |
| Verismo Therapeutics | Develops KIR-CAR T cell therapy for solid tumors. | $17M | Q3 2023 | FinSMEs |
| TolerogenixX | Develops modified immune cells for transplant tolerance. | $12.96M | Q3 2023 | GlobeNewswire, PharmiWeb |
| NK:IO | Develops NK cell therapy for solid tumors, initially targeting ovarian cancer. | $1.49M | Q3 2023 | Imperial College London |
| CARGO Therapeutics | Develops CD22 CAR-T for large B-cell lymphoma relapsed after CD19 CAR-T. | $200M | Q1 2023 | BioPharmaDive, BioSpace |
| Shanghai Cell Therapy Group | Develops CAR-T and cellular diagnostics for cancer treatment. | $77M | 2023 | DealStreetAsia, Crunchbase |
| Garuda Therapeutics | Develops iPSC-derived hematopoietic stem cell therapies as bone marrow transplant alternative. | $62M | Q1 2023 | Nature Biotech, FinSMEs |
| Neukio Biotherapeutics | Develops iPSC-derived CAR-NK cell therapies (allogeneic) for cancer. | $40M | 2023 | Simon-Kucher |
| Lion TCR | Develops mRNA-encoded TCR-T for HBV-related cancers and solid tumors. | $40M | Q2 2023 | PRNewswire |
| ANOCCA | Develops TCR-T therapies for solid tumors via industrial-scale discovery. | $38.4M | Q2 2023 | GlobeNewswire, BioSpace |
| Immuneel Therapeutics | Develops CD19-directed CAR-T for B-cell malignancies in India. | $15M | Q2 2023 | Labiotech, BioSpectrum India |
| Heartseed | Develops iPSC-derived cardiomyocyte therapy for heart failure. | $13.3M | Q2 2023 | Business Wire |
| Verismo Therapeutics | Develops KIR-CAR T cell therapy for solid tumors (earlier round). | $7M | Q1 2023 | FinSMEs |
| Cellcolabs | Develops large-scale mesenchymal stem cell manufacturing and therapy. | $4.32M | 2023 | Sifted |

In our cell therapy market deck, we will give you useful market maps and grids
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