Xingmou Biotech Secures Tens of Millions in Pre-A Financing to Advance wAMD Gene Therapy into IIT Clinical Trials and IND Submission

VCBeat learned at the first time,StarryGene recently completed a Pre-A round of financing worth tens of millions of RMB.

This round of financing was led by Shenzhen Guoke Ruihua Phase III Equity Investment Fund Partnership (Limited Partnership), with follow-up investments from Beijing Phase II Zhongke Chuangxing Hard Technology Venture Capital Partnership (Limited Partnership) and Zhuhai Hengqin Yixierding Investment Partnership (Limited Partnership).

The funds from this round of financing will be used forConduct IIT clinical trials and IND applications for the wAMD pipeline, develop new pipelines, and introduce high-end talents.

StarryGene is located in Hefei, Anhui Province, and is an incubated enterprise of the Advanced Research Institute of the University of Science and Technology of China.The company focuses on the development of gene therapy drugs for ophthalmic diseases and the research and service of gene editing technology., dedicated to achieving domestically available ophthalmic gene therapy drugs for the Chinese people, allowing them to see longer and better. The founding team of StarryGene consists of professors and doctors from the Chinese Academy of Sciences and the University of Science and Technology of China (USTC), with years of in-depth experience in R&D and management in ophthalmology, gene editing, and gene therapy. The company is initially based in Hefei, then extends its reach to Jiangsu, Zhejiang, and Shanghai, fully utilizing the clinical resources of the First Affiliated Hospital of USTC and the USTC Hospital's Department of Ophthalmology.

Regarding this round of financing,Dr. Cai Yuan, Founder and CEO of StarryGeneStarryGene stated: "We thank all the investors for their recognition of StarryGene. We have been actively promoting gene therapy into larger market segments, with our leading products deeply focused on the major ophthalmology track of wet age-related macular degeneration. Through continuous research and development, we have achieved significantly superior in vivo and in vitro efficacy compared to RGX-314, a leading product in the United States. Additionally, by utilizing our proprietary new capsid, we have successfully implemented intravitreal injection in this field, which will provide greater convenience for clinical use in the future. With this round of financing, we will further advance the initiation of in-hospital clinical trials and the submission of IND applications, while accelerating the development of subsequent products. We hope to bring more of the best gene therapy drugs to patients with ophthalmic diseases."

Dr. Tao Yuezhen, Chairman of OcuScience"Gene therapy has broad application prospects in ophthalmology. As a leading company in ophthalmic and optometric technology, Ocumension is very optimistic about this field. Therefore, the Zhonghe Ocumension Industry Fund became the angel investor of StarryGene. In recent years, global ophthalmic companies have been focusing on innovative drugs and medical devices in the ophthalmic field. StarryGene has achieved R&D breakthroughs in a relatively short period and taken a leading position in gene therapy for wet age-related macular degeneration, rivaling some international companies. I sincerely hope the company achieves more success in the ophthalmic sector."

Yin Lei, Managing Director of Guoke InvestmentStarryGene stated: "China's technology industry is moving towards comprehensive parallel leadership development, and China's innovative drug sector is also developing rapidly. StarryGene closely aligns with the broad track of degenerative eye diseases such as macular degeneration, providing the best gene therapy solutions. Guoke Investment is a technology industry investment management institution within the Chinese Academy of Sciences system. We have established deep trust with StarryGene's founding team and are willing to support their technology-driven entrepreneurship, jointly advancing StarryGene's ophthalmic gene therapy products and safeguarding the visual health of the Chinese people. We will continue to cooperate with and assist StarryGene to better meet the unmet clinical needs in the field of ophthalmology."