On August 8, 2018 EdiGene Inc., which develops genome editing technologies into novel therapeutics for a broad range of diseases and into creative solutions to advance drug discovery, reported the successful completion of approximately $15 Million in a Series pre-B financing (Press release, EdiGene, AUG 8, 2018, View Source [SID1234528577]).
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The financing is led by new investor Lilly Asia Ventures (LAV). New investor HuagaiCapital participated in this round. Series A lead investor IDG Capital, Series A investor WI Harper Group and other insiders also participated in this round.
"This investment will allow us to continue advancing ourpromising portfolio of therapeutic programs based on gene-editing technologies," said Dr. Dong Wei, CEO of EdiGene, "In addition, we will continue to further develop our proprietary High Throughput Genome Screening platforms into a comprehensive solution for our partners in key areas such as drug sensitivity, drug resistance and synthetic lethality."
"We are excited to invest in EdiGene," said Dr. Fei Chen, Managing Partner of Lilly Asia Ventures, "Gene editing is bringing evolutional breakthrough to drug discovery and potential clinical therapeutics, and we are pleased to collaborate with EdiGene team and to support EdiGene’s growth in the global market."
"This new round of financing led by Lilly Asia Ventures with participation of new and existing investors further validates the progress we have made and the potential of our platforms," said Dr. Wensheng Wei, founder of EdiGene. "Now we arewell positioned to further advance our pipeline and get one step closer to help patients with our technologies. We look forward to working with Lilly Asia Ventures and other investors for the years to come."