Langxin Bio Announces Completion of Series B+ Financing to Advance Ophthalmic Gene Therapy Pipeline

Jun 11, 2024 08:43 CST Updated 08:43

Innostellar Biotherapeutics

Innovative Gene Therapy Drug Research, Development, and Manufacturing

SHC

Innovative Investment Institutions in the Biomedical Field

On June 11, Innostellar Biotherapeutics, an innovative gene therapy pharmaceutical company, announced the completion of its B+ round of financing. This round was led by SHC, with shareholders such as Shanghai Alliance Investment Ltd. following suit.Invest.

Innostellar Biotherapeutics was founded in 2020 and is committed to the research, development, and manufacturing of innovative gene therapy drugs. Since its establishment, the company has built a GMP-compliant, scalable platform process for producing AAV products. This round of financing will further accelerate Innostellar Biotherapeutics' R&D and industrialization progress in the field of innovative gene therapy drugs.

Currently, the company has advanced 5 candidate molecules into clinical trials, taking the lead in conducting gene therapy clinical research in 3 indications of blinding eye diseases, and obtained 3 INDs.The first pipeline, LX101, for the treatment of RPE65 mutation-associated inherited retinal dystrophy (IRD), has entered Phase III clinical trials; the second pipeline, LX102, for the treatment of wet age-related macular degeneration, has entered Phase II clinical trials; and the third pipeline, LX103, for the treatment of X-linked retinoschisis, has completed an IIT trial involving six patients, demonstrating significant safety and efficacy.

Clinical Trial Patient Dosing

Innostellar Biotherapeutics has been dedicated to the field of gene therapy for hereditary and chronic eye diseases for many years. It has developed a foundation for the research and industrialization technology of multiple pipeline products and is closely collaborating with clinical medical scientists from renowned hospitals both in China and internationally. The company is focused on enhancing its innovative capabilities, aiming to develop gene therapy products more efficiently, and advancing their clinical application to benefit patients.

Innostellar Biotherapeutics R&D Laboratory

Innostellar Biotherapeutics Founder and CEO Wang Fenghua stated:"Thanks to SHC and Shanghai Alliance Investment Ltd. for their recognition and support of Innostellar Biotherapeutics. This round of financing will further strengthen our R&D and production capabilities in the gene therapy field, and accelerate the clinical research and industrialization process of innovative drugs. We are committed to providing more patients with efficient, safe, and affordable treatment options through technological innovation, making the rare visible and restarting a healthy life for patients with genetic and chronic diseases."

Liu Dawei, President of SHC, said:"CGT innovative therapies have broad application prospects in the field of rare diseases and even common diseases. We believe that China, relying on advantages such as efficient clinical transformation, possesses global industrial competitiveness in this field. Therefore, CGT innovative therapies are one of the key areas for the fund's strategic investment. Innostellar Biotherapeutics leverages the research accumulation and clinical resources in ophthalmology from Shanghai First People’s Hospital (Shanghai Clinical Medical Research Center for Gene Therapy) to continuously advance its ophthalmic gene therapy pipeline. The team's high execution efficiency has achieved the first domestic clinical progress in multiple pipelines. Its core pipeline, used for treating wet age-related macular degeneration, marks the first time gene therapy is applied to a common eye disease, targeting millions of patients. The development progress is leading, with excellent clinical data. We will fully explore the potential for transforming scientific research achievements in ophthalmic gene therapy in Shanghai and provide long-term support for Innostellar Biotherapeutics' local clinical development and future international expansion."

Shen Siyu, General Manager of the Third Investment Department of Shanghai Alliance Investment Ltd., said:"Shanghai Alliance Investment Ltd.'s investment layout in the global biopharmaceutical field has always been centered on patient needs and guided by clinical value. The team at Innostellar Biotherapeutics demonstrates a rigorous scientific attitude, extensive clinical experience, and efficient execution capabilities, developing multiple innovative gene therapies for ophthalmic patients, bringing new 'hope for light' to those suffering from blinding eye diseases. Currently, several of Innostellar Biotherapeutics’ R&D pipelines rank first in clinical progress within China, with outstanding clinical data performance. For instance, the rescue treatment rate for their product targeting wet age-related macular degeneration is 0%, significantly outperforming other similar global competitors. We are well aware that the development cycle for innovative drugs is long, fraught with unforeseen challenges and high risks, especially in the case of gene therapies. Therefore, we will continue to support the growth of Innostellar Biotherapeutics in bringing these products, which offer 'hope for light' to patients, into real-world clinical applications."”

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Disclaimer: The content is sourced from the official website of Innostellar Biotherapeutics. All information provided in this article is for reference only and does not constitute any form of advice.