China-based genome editing technology provider EdiGene closed a RMB450m ($66.8m) series B round today that included Lilly Asia Ventures, a corporate venture capital vehicle for pharmaceutical firm Eli Lilly.
The round was led by VC firm 3H Health Investment and also featured Sequoia Capital China, Alwin Capital, Kunlun Capital and exiting investors including IDG Capital, Huagai Capital and Green Pine Capital Partners.
EdiGene has created gene editing platforms for haematopoietic stem cells and T cells, in addition to a drug development platform based on RNA base editing and a screening system that uses genome-editing to discover targets for novel therapeutics.
Dong Wei, EdiGene’s chief executive, said: “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.
“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 realising our mission of bringing innovative and high-quality gene editing therapies to patients in need.”
The company said it has now raised more than $100m in funding in total, having secured $15m in a 2018 pre-series B round led by Lilly Asia Ventures and backed by Huagai Capital and existing investors IDG Capital and WI Harper Group.
Lilly Asia Ventures and IDG Capital subsequently returned to add $11m through a September 2019 pre-series B2 round.
