WI Harper Group backed EdiGene, Inc., which develops genome editing technologies to accelerate drug discovery and develop novel therapeutics for a broad range of diseases, announced the successful completion of a RMB 450 million (approximately USD 67 million) Series B financing. 3H Health Investment led the round and other new investors included: Sequoia Capital China, Alwin Capital and Kunlun Capital, along with continued support by previous investors: IDG Capital, Lilly Asia Venture, Huagai Capital and Green Pine Capital Partners. Proceeds from the financing will be used to advance the company’s pipeline into clinics and to expand the team.
Founded in 2015, EdiGene has established four gene editing based platforms and is advancing its early stage programs into clinical development for patients with genetic diseases and cancer. The four platforms are exvivo genome-editing platforms for hematopoietic stem cells and T cells, in vivo therapeutic platform based on RNA base editing, and high-throughput genome-editing screening to discover novel targeted therapies. In addition, EdiGene has launched GMP manufacturing facility in 2018 in Guangdong Province.
“Gene editing is a recent revolutionary breakthrough in the field of biotechnology and a key and hope for the treatment of many congenital diseases. Edigene is a pioneer in the domestic industry and even globally. We are pleased to be an early-stage A round investor to witness the EdiGene’s professional and technical achievements, and will continue to support their breakthroughs in clinical development and their efforts towards globalization,” said Peter Liu, Chairman of WI Harper Group.
“We have raised approximately RMB 700 million (USD 100 million) in the past two years. We are delighted to add these top tier investors in closing of our Series B financing, and are grateful for the continuous support from the current investors,” said Dong Wei, Ph.D.，CEO of EdiGene, “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. More importantly, we are closer to realizing our mission of bringing innovative and high-quality gene-editing therapies to patients in need.”
“We are very pleased to have the support and partnership from our investors, which propels the company to an exciting new stage,” said Wensheng Wei, Scientific Founder of EdiGene, “Together with the investors, we look forward to translating cutting-edge gene editing technologies into innovative therapies, bringing hope and health to patients and their families.”
Johnson Lin, Healthcare Partner of WI Harper, said: “After 50-year era of chemical and biological medicine, we believe that gene therapy has truly opened a new door in the history of human medicine and gave us the opportunity to cure many congenital diseases. We are honored to be able to explore this new field with a leader like EdiGene.”
| About EdiGene, Inc
EdiGene is a biotechnology company focused on leveraging the cutting-edge genome editing technologies to accelerate drug discovery and develop novel therapeutics for a broad range of genetic diseases and cancer. The company has established its proprietary ex vivo genome-editing platforms for hematopoietic stem cells and T cells, in vivo therapeutic platform based on RNA base editing, and high-throughput genome-editing screening to discover novel targeted therapies. Founded in 2015, EdiGene is headquartered in Beijing, with subsidiaries in Guangzhou, China and Cambridge, Massachusetts, USA. More information can be found at www.edigene.com.
| About WI Harper Group
WI Harper is a pioneer and leading cross-border venture capital firm investing in early and expansion stage companies globally. With offices in San Francisco, Beijing, and Taipei, the firm actively oversees more than $1 billion in assets under management. Since inception nearly three decades ago, WI Harper has invested in over 400 startups and has successfully experienced more than 100 IPO and M&A exits.
We look for innovative companies and visionary founders in healthcare, technology and sustainability fields where there are high synergies and meaningful value added cross selling opportunities. While our healthcare team is presently honing on bioinformatics and digital biology, our technology team is focused blockchain, big data, analytics, artificial intelligence, AR/VR, IoT, robotics, drones, autonomous driving, as well as digital media and green energy projects.