GeneBasket Completes Pre-B+ Financing and Breaks Ground on Commercial AAV Gene Therapy Manufacturing Facility

VCBeat learned第一时间 that recently, Beijing Genecradle Therapeutics Co., Ltd. (hereinafter referred to as "Genecradle") announced that it has received tens of millions of yuan in additional financing shortly after its pre-B round, which raised hundreds of millions of yuan. The additional round was exclusively invested by Cash Capital (Beijing) Investment Management Co., Ltd.

Beijing Genecradle Therapeutics Co., Ltd. was established in 2018. With the quality policy of "driven by demand, bold in innovation, specialized in design, strict in verification, precise in manufacturing, and beneficial to patients," the company has developed various gene therapy drugs targeting rare diseases, chronic diseases, and degenerative disorders. Among them, gene drugs for types 1, 2, and 3 spinal muscular atrophy, early-onset and late-onset Pompe disease, and hypertriglyceridemia with acute pancreatitis have been approved by the National Medical Products Administration (NMPA) for clinical trials.

Currently, more than 7,000 rare diseases are known globally. Although the overall incidence of rare diseases is relatively low, due to China's large population base, rare diseases in China are not actually "rare." Currently, the treatment of rare diseases in China mainly relies on imported and generic drugs, and there is a widespread dilemma of "drugs available overseas but not in the country." Effective orphan drugs for rare diseases are even scarcer domestically. Since the vast majority of rare diseases are caused by genetic mutations, gene therapy can achieve more precise and effective long-term targeted treatment by supplementing missing gene fragments, improving patients' survival conditions from the source of the disease. Currently, seven AAV gene therapy drugs for rare diseases have been approved for marketing abroad, while this field remains a blank slate domestically.

Genecradle focuses on the research, innovation, and manufacturing of gene therapy drugs for hereditary neuromuscular diseases, inherited metabolic disorders, lysosomal diseases, and ophthalmic conditions. The pipeline products are all designed based on clinical needs. Currently, multiple AAV gene therapy drugs developed by the company have entered clinical trials at several research centers, including the Seventh Medical Center of the Chinese PLA General Hospital, Peking Union Medical College Hospital, Beijing Hospital of the Chinese Academy of Medical Sciences, the First Medical Center of the Chinese PLA General Hospital, and Beijing Tiantan Hospital affiliated with Capital Medical University. Together with clinical institutions and relevant partners, the company is advancing rare disease gene therapies with China-owned intellectual property rights into clinical use and the market.

Mr. Zhang Wei, partner of Cash Capital, stated that Genecradle has mastered the internationally leading technology for the efficient production of AAV vectors, which are core to gene therapy drugs. Taking into full consideration clinical needs and disease pathogenesis, the company has designed and developed a series of innovative gene therapy pipelines. The company's first gene drug, administered via intrathecal injection for Spinal Muscular Atrophy (SMA), significantly reduces the required dosage of AAV, with its clinical trial progress leading in China. Its R&D platform includes gene therapy drugs for multiple indications such as Pompe disease, showcasing differentiated competitive advantages and helping China maintain an internationally top-tier level and competitiveness in this advanced biopharmaceutical industry.

Cash Capital, as a science and technology innovation private equity fund management institution established by CAS Holdings, is honored to participate in this round of financing for Genecradle. Cash Capital will actively promote the advanced gene therapy technologies of the company to achieve greater market impact through international cooperation networks among top research institutions by leveraging the empowerment advantages of "technical capital."

Cash Capital (Beijing) Investment Management Co., Ltd. was established in 2011. It is a science and technology innovation private equity fund management institution initiated by the Chinese Academy of Sciences Holdings Co., Ltd. (referred to as "CASH") as the cornerstone investor and is a first-tier enterprise managed by CASH. Over the past twelve years, Cash Capital has consistently played a leading role in investing “technology capital” in hard tech fields. Relying on top-notch technical capabilities from research institutes, a large number of high-tech transformation achievements, and government and industry resources, it has accumulated deep industry understanding and rich investment experience in hard tech. It has invested in more than a hundred high-tech innovative companies with technological barriers in areas such as big data, cloud computing, intelligent manufacturing and high-end equipment, cybersecurity and enterprise services, semiconductors, artificial intelligence, medical services, innovative drugs, and medical devices.

Beijing Genecradle Therapeutics Co., Ltd. is a national high-tech enterprise with core business in the development of gene therapy drugs mediated by AAV vector delivery technology. Its mission is to promote Chinese rare disease gene drugs from basic research to clinical and market applications, benefiting patients and their families. The company focuses on the development of gene therapy drugs for hereditary neuromuscular diseases, inherited metabolic diseases, lysosomal diseases, and ophthalmic diseases. By advancing the research and clinical application of rare disease gene drugs, it seeks to deepen the understanding of life and health, transitioning gene therapy technologies and products from rare diseases to the treatment and rehabilitation of chronic and other major diseases.