China gene therapy start-up Cure Genetics raises $60m
Advantech Capital has led a USD 60m Series B for Suzhou-based biotech player Cure Genetics. Other investors include Oriza Holdings, Blue Ocean Private Equity, and Qiming Venture Partners.
The company claims to have raised nearly USD 100m to date. It secured a CNY 15m (USD 2.4m) angel round from PC Capital and Sunshare Capital in 2016, followed by a USD 17m Series A in 2018 led by Qiming, according to AVCJ Research.
The proceeds of the latest round will be used to advance clinical development of Cure Genetics' cell therapy candidates for haematological and solid tumours.
Established in 2016, the company has developed proprietary platforms in gene editing, vector delivery and cell engineering. Its key capability is in adeno-associated (AAV) manufacturing. AAV is the main viral vector researchers use for gene therapy because it is considered non-pathogenic to humans and not associated with DNA damage and unpredictable consequences.
Cure Genetics has a dedicated platform that enables fast and systematic design, selection and optimization of AAV vectors with special features. Last year, the company announced a partnership with Germany’s Boehringer Ingelheim to develop a novel AAV vector.
Similar recent investments include a CNY 400m Series C for Neurophth Biotechnology, which claims to be China's first gene therapy start-up focused on ophthalmic diseases. It uses technology based on an in-house developed AAV platform.
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