Neurophth Snares ￥130M in Series A Financing, Developing Gene Therapy Drugs in Ophthalmic Disease

According to 36Kr.com, Wuhan Neurophth Biotechnology Co., Ltd. ("Neurophth") has completed the Series A financing of 130 million yuan, led by Sequoia Capital China and Fosun Venture, with participation from Northern Light Venture Capital. Previously, Neurophth secured an angel round of funding in 2018, led by an investment fund of BGI, Qiji Zhiguang Fund, BOHE Angel Fund and Northern Light Venture Capital.

Neurophth is a research and development company of gene therapies in ophthalmic disease, which is located in Wuhan Biolake. With Leber hereditary optic neuropathy (LHON) as the breakthrough point, the company has completed the clinical trial of the gene therapy in LHON with the largest sample size in the world, and has explored in the field of other genetic diseases. The research results have been recognized by a number of national invention patents and PCT.

At present, Neurophth is building two R&D platforms, the gene therapy R&D platform of genetic eye diseases, and the GMP production platform of gene therapy drugs. According to professor Li Bin, the founder of Neurophth, the company plans to set up a gene therapy transformation center to serve as an R&D base for animal experiments and cell experiments related to ophthalmic diseases. Other ophthalmic pipelines will also be developed.

Up to now, the core pipeline for LHON developed by Neurophth is in the pre-clinical research stage. With the successful completion of pilot production, the company is preparing for the registration of clinical trials at home and abroad. Neurophth has subsidiaries in the United States and Shanghai and is also preparing for the core product to be launched in the United States.

Sequoia Capital China is a VC firm focused on seed-stage, mid-stage, late-stage, and growth investments in the fin-tech sector.

Formed in September 2005, Sequoia Capital China has an impressive and diverse portfolio comprising about 300 dynamic companies that deliver high returns on investment using differentiated technologies and innovative business models, including Alibaba, VIPshop.com, Sina.com, Didi, JD.com, Ourpalm, Qihoo 360, Jumei, Momo, and so on.

Founded in 2005, Northern Light is a venture capital firm targeting early-stage opportunities of innovation and disruptive technology. It has 5 RMB funds and 5 USD funds with managed capital of 4.5 billion dollars. Northern Light focuses on 3 main sectors including TMT, advanced technology, and healthcare covering medical devices, E-health and so on.