IDG, Lilly join $10m round for China’s EdiGene

EdiGene is focused on developing genome editing technologies into novel treatments for a range of diseases, primarily genetic conditions and cancer, along with contributing to drug discovery efforts and building a genomics database for researchers. It was founded in 2015 by Wensheng Wei, a professor at Peking University and vice director of the Chinese Association of Genome Editing, and has branches in Guangzhou and Cambridge, Massachusetts.

The transaction, which is described in a statement as a pre-Series B-plus round, was led by Green Pine Capital Partners. Both IDG and LAV are existing investors, having led the Series A and Series B rounds, respectively. EdiGene will use the new capital to accelerate development of its lead program, a treatment for the blood disorder thalassemia that is expected to enter clinical trials later this year.

Green Pine currently has over RMB15 billion ($2.2 billion) in assets under management and claims to have invested in nearly 400 companies since its launch in 2000. The firm backs early-stage start-ups in China with a focus on the biotechnology, information technology, and renewable energy sectors.

Recent gene therapy investments by Green Pine include a $60 million Series A round for Singlera Genomics last March and a $50 million round for DTRM Biopharma in January. Green Pine also manages an incubator for overseas Chinese scientists aiming to start businesses in China.

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• Topics
• Greater China
• Healthcare
• Early-stage
• China
• Green Pine Capital Partners
• IDG Capital Partners
• Lilly Asia Ventures