Exegenesis Bio Inc., a leading gene therapy company, has successfully completed a Series B financing round, raising tens of millions of dollars. The round was led by Legend Capital, with Boyuan Capital, Taikang Capital, and previous investors Xianfeng Qiyun and Kaitong Capital participating. The funds raised will be directed towards advancing the company’s multiple gene therapy pipelines in clinical and research and development stages.
Company Background and Initial Funding
Established in July 2019, Exegenesis Bio Inc., is an innovative pharmaceutical company based in Hangzhou, committed to providing accessible gene therapies to the global market. The company focuses on developing Best in class and First in class gene therapy drugs for various markets. In August 2019, just over a month after its establishment, Exegenesis completed its initial funding round of over 10 million US dollars, led by Xianfeng Qiyun, with Kaitong Capital and Lenovo Star as investors.
Vision and Commitment to Patient Care
Dr. Zhenhua Wu, the founder and CEO of Exegenesis, stated, “Exegenesis Bio is committed to building a complete industry chain from early-stage research and development, clinical testing, to commercial production. We aim to provide patients with one-time curative, safe, effective, and affordable gene therapy drugs.” This vision underscores the company’s dedication to transforming the lives of patients with genetic disorders.
Founder Team Experience and Company Strengths
The founding team of Exegenesis possesses extensive experience in the development of gene and cell therapies, with each member having worked over 15 years in renowned gene therapy companies in the United States. Beyond technical expertise, the team at Exegenesis also emphasizes building strength in production, operations, management, and business development, ensuring a well-rounded approach to bringing gene therapies to market.
Potential Impact of Gene Therapy
Gene therapy, which is based on the expression of proteins needed to cure diseases from DNA sequences, has the potential to offer a “one-time cure” for a variety of intractable diseases, particularly genetic disorders. In 2018, Science magazine declared the advent of the era of gene therapy. By 2020, the global gene therapy market saw an explosive growth, with six gene therapies launched, five in the Biologics License Application (BLA) stage, and 20 in Phase III clinical trials. The applications of gene therapy have expanded from single-gene genetic diseases to 16 disease areas and 191 indications, including common diseases with large patient populations, such as Parkinson’s disease and Alzheimer’s disease.-Fineline Info & Tech
