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.