Frontera Therapeutics Secures $160 Million Series B Financing Led by Boyu Capital and Sequoia China to Advance Innovative Gene Therapy Pipeline

Investment界 (ID: pedaily2012) news, July 19th,Frontera TherapeuticsFrontera Therapeutics (hereinafter referred to as "Frontera Therapeutics") announced the completion$160 Million Series B Financing. Series B financing was led byBoyu Capital and HongShan led the investment, with participation from Loyal Valley Capital and Creacion Ventures.Other investment institutions, such as Creacion Ventures, participated in the follow-up investment. Original sharesOrbiMed, HongYuan CapitalContinued Support. Frontera Therapeutics was established in 2019, dedicated to developing innovative gene therapy drugs, providing high-quality and affordable gene therapy products for patients with rare diseases and chronic illnesses worldwide. Frontera Therapeutics has secured a total of $195 million in financing.

Currently, Frontera Therapeutics' first innovative product, FT-001, has received clinical trial approval from the U.S. Food and Drug Administration (FDA) and has been accepted for clinical trial application by the Center for Drug Evaluation (CDE) of the National Medical Products Administration in China. FT-001 is a recombinant adeno-associated virus (AAV) gene therapy drug targeting hereditary retinal diseases caused by RPE65 gene mutations. This disease manifests as early onset in childhood, progressive vision loss, and even blindness, with no effective treatment currently available in China. Meanwhile, several other gene therapy drugs developed by Frontera Therapeutics have also begun preparations for clinical research applications.

Regarding the company's completion of this round of financing,Dr. Dai Yong, Founder and CEO of Frontera TherapeuticsStated: "As we strive to create value for patients and shareholders, we are highly honored to continuously receive trust and strong support from numerous renowned international investment institutions. Frontera Therapeutics’ vision is to become a gene therapy drug research, development, and production enterprise that is trusted by patients, respected by the industry, and recognized by society. The FT-001 project took less than two years from initiation to obtaining FDA clinical trial approval, showcasing our team's excellent execution capabilities. In the future, our team will remain committed to focusing on the research and production of gene therapy drugs. With the power of capital, we believe we will be one step closer to realizing the company’s vision and serving patients worldwide!"

Dr. Carl Gordon, Managing Partner of OrbiMed and Board Member of Frontera TherapeuticsStated: "We are very excited to be able to support Frontera Therapeutics in expanding gene therapy to the global market and meeting the needs of potential patient populations."

Dr. Li Wei, Founding Partner and Chairman of HongYuan Capital"The FDA's approval of the clinical trial application for FT-001 represents an encouraging achievement for Frontera Therapeutics in terms of project development and team management. It also marks Frontera Therapeutics' entry into the clinical stage, as well as an important step forward in further validating its industry-leading technology in scalable production. By building an efficient and scalable AAV gene therapy drug development platform, Frontera Therapeutics is expected to shorten the development cycle from product research, clinical trials, to final regulatory approval and market launch."

Frontera Therapeutics is an international innovative gene therapy drug research and development and production company. Its R&D center is located in Boston, USA, with clinical operations and GMP production bases in Shanghai and Suzhou, China. The company has established an innovative recombinant adeno-associated virus (AAV) gene expression system platform aimed at optimizing innovative, clinically validated AAV vectors to enhance the safety and efficacy of gene therapy products. The company has also built a 500L scale GMP production system, with the capacity to meet the medication needs of patients with different clinical indications. Frontera's R&D pipeline covers disease areas such as rare ophthalmic diseases, chronic diseases, blood disorders, neuromuscular and metabolic diseases, holding immense market potential. Frontera Therapeutics is committed to providing high-quality, affordable gene therapy drugs for patients with rare diseases and chronic illnesses worldwide.

Source: Investment界, Original text: https://news.pedaily.cn/202207/496352.shtml