EdiGene, a Japan-based developer of treatments for genetic disorders, raised ¥1.6bn ($14.3m) in series B funding on Wednesday, from investors including financial services firms SBI Group, Sumitomo Mitsui Banking Corporation and Mizuho Bank.
The firms, which invested through subsidiaries SBI Investment, SMBC Capital and Mizuho Capital respectively, were joined by University of Tokyo’s investment company UTokyo Innovation Platform, business development consultancy Fast Track Initiative, CareNet Group and unnamed existing investors.
Founded in 2016, EdiGene is developing therapeutic candidates for a range of genetic disorders based on its epigenetic editing platform, Crispr-Guide Nucleotide Directed Modulation (GNDM).
The company claims Crispr-GNDM can normalise the output of proteins created through gene expression without affecting the underlying DNA or RNA molecules. The approach could potentially prevent, modify and cure a wide array of genetic diseases.
EdiGene raised $15m in a 2017 series A round that featured a $4m commitment from imaging technology producer Fujifilm. The other series A investors were not named but SBI, Fast Track, SMBC, Mizuho and CareNet were identified as returning backers in the latest round.
The company is unrelated to China-based genomic medicine developer EdiGene, whose shareholders include Lilly Asia Ventures, a regional corporate venturing unit of pharmaceutical firm Eli Lilly.
The original version of this article appeared on our sister site, Global University Venturing.