Chinese biotech firm EdiGene nabs $67m from Sequoia, IDG, others

Chinese novel gene-editing platform EdiGene Inc has raised 450 million yuan ($67 million) in its Series B round funding led by Chinese healthcare industry focused private equity fund 3H Health, according to a company statement on October 13. 

New investors who participated in the round include Sequoia Capital China, early stage life science investment firm Alwin Capital and Beijing-based Kunlun Fund. A slew of existing investors also joined the fresh fundraising – including IDG Capital, Lilly Asia Ventures (LAV), Green Pine Capital Partners and Huagai Capital.

EdiGene will use the funding to advance its pipeline candidates into clinics and to expand its team.

With over 100 professionals globally, EdiGene specializes in leveraging new-generation genome editing technologies for drugs and therapies that cater to genetic diseases and cancers. Founded in 2015, the company has built four proprietary platforms such as high-throughput genome-editing screening and in vivo therapeutic platform to facilitate pipeline candidates entering into clinical trials. 

The company is based in Beijing, and it has also set up a GMP and application center in Guangzhou, as well as a business development base in Cambridge, MA, U.S. 

Per its recent press release in May, EdiGene has forged a partnership with Immunochina to develop allogeneic CAR-T therapy for cancer. 

“We have raised approximately RMB 700 million ($104 million) in the past two years,” said Dr. Dong Wei, CEO, EdiGene, in the statement, “The round enables us to further scale up and transform our pipeline into clinical-stage, which is also a big step forward in building a globally competitive gene-editing company.”

IDG is a long-term backer of EdiGene. In September 2019, it had, along with LAV, invested 81.50 million yuan ($12 million) in EdiGene’s pre-B2 round. Previously, it had teamed up with other venture capital firms such as U.S global firm WI Harper Group to participate in EdiGene’s pre-B+, pre-B and Series A rounds.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.