By Fineline Cube Next Generation Gene Therapeutics Inc., a leading gene therapy developer based in Suzhou, China, has reportedly raised USD 40 million via a Series B financing round. The round was led by Shanghai Healthcare Capital, with additional contributions from DT Capital, Zhongxin Capital, Guangda Huitong, and Suzhou Industrial Park Leader Venture Capital. The proceeds from this funding will be directed towards clinical sample manufacturing and the initiation of early clinical trials.
Company Background and Pipeline Progress
Founded in 2020, Next Generation Gene Therapeutics has made significant strides in advancing its pipeline. The company’s lead pipeline candidate, NGGT001, is a gene therapy targeting retinitis pigmentosa, which has demonstrated good safety and preliminary efficacy data in a proof-of-concept investigator-initiated trial (ITT). Another core product, NGGT002, a systemically administered gene therapy for metabolic diseases, has also shown promising safety and preliminary efficacy in an ITT.
IND Approval and Orphan Drug Designation
Both NGGT001 and NGGT002 have previously obtained Investigational New Drug (IND) approval and Orphan Drug Designation (ODD) from the US FDA. These designations underscore the potential impact of Next Generation’s therapies on rare diseases and the company’s commitment to addressing unmet medical needs.-Fineline Info & Tech