Caixin
Caixin Global – Latest China News & Headlines

Home >

ABOUT US

CX Tech is Caixin Global's real-time tech news portal, featuring 24-hour news, short-form analysis, and roundups from business and tech media in China.

LATEST
Chinese Online Language Educator 51Talk Speaks the Language of Profit
Trending in China: Are Elderly ‘Collateral Damage’ in Increasing Technological Cashless World?
Trending in China: Black and White ‘Little Miracle’ Born to 22-Year-Old Panda in Washington
Facing U.S. Sanctions, Huawei May See Global Smartphone Share Slump to 4% in 2021
Chinese LGBTQ Dating App Owner BlueCity Acquires Youth-Focused Gay Platform Finka
Xiaomi-Backed Smart Wearables Maker Huami Sees Profits Slump Despite Revenue Growth
Baidu Maps Illegally Using Other Chinese Firm’s Mapping Info, Court Finds.
U.S.-Listed Chinese Electric Scooter Maker Niu Rides to Higher Profits
Chinese E-Commerce Firm Ruhnn Focusing on Online Celebrities Sees Losses Narrow
China’s Kaixin Nears 1000% Annual Gain on Electric Vehicle Rally
Trending in China: Baidu Blocking Caixin’s Criticism of Search Engines Goes Viral
Trending in China: Should Restaurants Be Free to Pick and Choose Their Customers? The Strange Case of ‘Reverse Sexism’
Codemao Raises $198 Million to Teach China’s Youth Computer Programming
Tesla Challenger Xpeng Plans to Install Lidar on Electric Vehicles in 2021
Chinese Online Educator Fraud Suspect GSX Reports Losses
Investors Eat Up Dada as Grocery Delivery Specialist Posts Strong Growth
WeWork’s China Rival Completes U.S. Backdoor Listing
Trending in China: Embarrassingly Poor Quality Control of iPhone 12 Plagues Consumers
Trending in China: Are Last-Mile Logistics Companies Lording Over Their Customers?
Chinese Tech-Enabled Truckload Platform Zeyi Nets $91m in Series C Round
Chinese Biotech Firm EdiGene Nabs $67m From Sequoia, IDG, Others

By DealStreetAsia / Oct 14, 2020 01:16 PM / Finance

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.

Contact editor Yang Ge (geyang@caixin.com)

Related: Jack Ma-Backed Biotech Firm Considers Hong Kong IPO


Share this article
Open WeChat and scan the QR code