(Yicai Global) Dec. 3 -- Chinese gene-editing firm Hui-Gene Therapeutics has raised over CNY100 million (USD14 million) in its latest funding round as it looks to shore up its clinical pipeline.
CD Capital led the round with support from new investors WuXi AppTec, HM Capital, Alwin Capital and existing backer Sherpa Capital, the Shanghai-based firm said online yesterday. It plans to use the extra cash to expand its drug pipeline, set up research and development and pre-clinical teams, and build a factory that adheres to the local principles of good manufacturing practices.
Hui-Gene's R&D capabilities and closed-loop pipeline process are the core strengths that helped secure the funds, said its co-founder and Chief Executive Yao Xuan.
The company collected CNY30 million in funding from Sherpa Capital in November 2018, a month after it set up shop to focus on developing new medical treatments and drugs for rare genetic diseases in humans.
Editor: James Boynton