On October 13, 2020 EdiGene, Inc., which develops genome editing technologies to accelerate drug discovery and develop novel therapeutics for a broad range of diseases, reported the successful completion of a RMB 450 million (approximately USD 67 million) Series B financing (Press release, EdiGene, OCT 13, 2020, View Source [SID1234568346]). 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, including 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.

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Minchuan Wang, Ph.D., Partner of 3H Health Investment commented: "As one of the most disruptive biomedical technologies, gene editing is rapidly moving toward clinics globally. EdiGene is leading the wave in China, as they have established outstanding research and development capabilities, and more importantly, they have developed an impressive portfolio of proprietary gene editing tools and product candidates. We are pleased to lead the Series B financing, and are excited to join force with EdiGene and other investors to bring life-changing innovative gene-editing therapies to patients in China and globally. We look forward to contributing our clinical, business, and policy resources to further strengthen the company’s capabilities, and are confident that EdiGene is well-positioned to be a leader in gene-editing therapeutics."

"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."

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 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. In addition, EdiGene has launched GMP manufacturing facility in 2018 in Guangdong Province.