BioOra Limited, a New Zealand developer and manufacturer of CAR T-cell therapies, has completed a definitive license with Wellington Zhaotai Therapies Limited, or WZTL, for exclusive rights to develop and commercialize its third-generation anti-CD19 CAR T-cell therapy known as WZTL-002. The company also announced the first close of its Series A2 funding round with secured commitments of NZ$30 million. The agreement and capital raise position BioOra to expand manufacturing and pursue a planned public listing on the ASX in 2028.
License Agreement and Therapeutic Foundation
The license grants BioOra exclusive rights to WZTL-002 in all markets outside China and India, including the USA, Europe, and the UK. WZTL is a New Zealand-incorporated joint venture established in 2017 between Hunan Zhaotai and the Malaghan Institute of Medical Research. BioOra manufactures the therapy as atlacabtagene autoleucel, known as atla-cel, and currently supplies it for the ENABLE-2 clinical trial in adults with relapsed or refractory large B-cell lymphoma.
Series A2 Funding and Investor Support
The first close of the Series A2 round was supported by existing shareholders and new investors, with significant additional capital provided by Bridgewest Ventures and Cincinnati Children's Hospital Medical Center. BioOra expects a second close by the end of December 2026, and the round is targeting a total of NZ$45 million. Series A2 is intended to be BioOra's final private raise before a planned ASX public listing in 2028.
Deployment of Capital and Expansion Plans
Proceeds from the A2 round will support completion of manufacturing for the ENABLE-2 clinical trial, regulatory filing of atla-cel with Medsafe, and completion of the BioOra Health & Technology Centre in Christchurch. The funding also readies BioOra for wider public access to novel cell and gene therapies and expansion into Queensland. It further supports the partnership with Cincinnati Children's Hospital for development of atla-cel for pediatric acute lymphoblastic leukemia.
Commercial Terms
Financial terms of the license have not been disclosed. Under the agreement, Wellington Zhaotai Therapies will receive an upfront cash payment, equity in BioOra Limited, and royalties on future product sales. This arrangement gives Wellington Zhaotai the opportunity to participate in the future commercial success of WZTL-002 in major international markets as directed by BioOra.
Leadership Perspectives
Chief Executive Officer John Robson said the license secures the science that atla-cel is built on, while the first close gives the company resources to keep delivering for patients. He thanked colleagues at WZTL, Hunan Zhaotai, and the Malaghan Institute for their partnership. BioOra Chairman Dr. Crabtree described the milestone as a deal that positions New Zealand-born innovation as a global treatment opportunity.
Strategic Rationale
With exclusive rights outside China and India, BioOra can now prepare to expand into major international markets beyond New Zealand and Australia. The company views the transaction as an important step toward wider public access to novel cell and gene therapies. It also strengthens BioOra's readiness for regulatory approvals, commercial scale-up, and the planned public listing.
By securing the core intellectual property and closing the first tranche of Series A2 capital, BioOra has reinforced its foundation for clinical development, regulatory progress, and commercial manufacturing. The company is advancing atla-cel for hematological malignancies and autoimmune diseases while preparing for broader market entry. The planned second close and anticipated 2028 ASX listing signal a clear path toward making these therapies more widely available to patients.