MVRIX Raises $6.1M Series B to Advance In Vivo CAR-T Development with Antibody-Guided mRNA Platform

MVRIX, a South Korean biotech startup developing in vivo CAR-T therapies, announced on September 4 that it has closed an $6.1 million (8 billion won) Series B funding round.

The round was joined by Korea Investment Partners, Intervest, iGene, Korea Omega Investment, Lifecore Partners, and Seoul Techno Holdings.

Following a $2.4 million (3.2 billion won) Series A round in 2022, MVRIX has now secured a cumulative $8.5 million (11.2 billion won) in funding. The company is developing in vivo CAR-T therapies using its proprietary antibody-based targeted delivery platform, Navibody, which delivers messenger RNA (mRNA) to specific immune cells.

In vivo CAR-T generation represents a departure from conventional ex vivo CAR-T manufacturing, which requires extracting, culturing, and engineering a patient’s cells outside the body. By generating CAR-T cells directly within the patient, the approach aims to address the high cost—often reaching hundreds of thousands of dollars—and complex manufacturing processes that have limited broader adoption of cell therapies.

MVRIX’s lead pipeline candidate, MIC-001, is designed to induce CAR expression in T cells using antibody-conjugated lipid nanoparticles (LNPs). The company is developing MIC-001 as a treatment for autoimmune diseases, including systemic lupus erythematosus (SLE). Research findings on the Navibody platform were published in the international journal ACS Nano in 2025.

According to the company, internal preclinical studies have demonstrated MIC-001’s ability to deliver targeted payloads to T cells and generate CAR-T cells. In non-human primate studies, the company observed CAR expression in T cells and evaluated safety under repeat-dose conditions. These are company-stage preclinical findings; additional efficacy and safety testing, followed by clinical trials, will be required to validate the therapeutic potential.

MVRIX plans to allocate the Series B proceeds to optimizing MIC-001’s candidate molecule and formulation, evaluating efficacy in humanized mouse models, conducting non-human primate efficacy and safety validation, and advancing process development and manufacturing readiness. The company will then proceed through preclinical toxicology studies in preparation for an Investigational New Drug (IND) application.

The company is also developing MBT-002, a next-generation recombinant botulinum toxin candidate that leverages genetic recombination technology to improve productivity and functionality. MVRIX has out-licensed aesthetic-use rights for MBT-002 to iGene and will continue R&D for therapeutic indications.

“Our preclinical work confirms that the Navibody platform can deliver mRNA to T cells and generate CAR-T cells in vivo,” said Sangwon Jeong, CEO of MVRIX. “We will use this funding to advance non-human primate efficacy and safety validation for MIC-001, develop our manufacturing process, and build the foundation for clinical entry.”

Founded in 2021, MVRIX is a biotech company that applies protein engineering to develop next-generation gene therapies and delivery platforms. The company has registered a U.S. patent for its gene therapy delivery platform and was selected for the Ministry of SMEs and Startups’ Cho-gyeokcha Startup 1000+ program, demonstrating its proprietary technology.

The Series B announcement comes as gene therapy delivery technologies continue to attract capital and clinical validation. Seoul-based KB ELEMENT closed a $9.4 million Series B in August to scale production of non-oxidized graphene for advanced materials, while N.Light raised $9.8 million in August to build Physical AI data infrastructure for manufacturing and robotics training, illustrating growing investor interest in next-generation manufacturing and biotechnology platforms in South Korea.