German Gene Therapy Company ViGeneron Secures Series A Funding to Accelerate Development of Novel Ophthalmic Gene Therapies

VCBeat (WeChat ID: vcbeat) learned that on November 28, 2019, the German gene therapy company ViGeneron GmbH announced the completion of its Series A financing round, led by Chinese investors Wuxi AppTec Venture Fund and HongShan China.

This round of financing will be used by ViGeneron to advance its preclinical gene therapy technology and drive the development programs for two ophthalmic gene therapy products. The technology enables the delivery of larger DNA sequences to a broader range of cells compared to existing technologies.

ViGeneron, founded in 2017 and headquartered in Munich, is a biotechnology startup spun out of Ludwig Maximilian University of Munich (LMU). The company leverages its two technology platforms—the vgAAV vector platform and the REVeRT split-AAV platform—to address unmet medical needs in ophthalmology through its internal gene therapy programs targeting specific retinal diseases.

ViGeneron has developed an adeno-associated virus (AAV) vector-based gene therapy; AAV vectors are commonly used in gene therapy. However, such vectors may have drawbacks, including the inability to cross physical barriers like the blood-brain barrier in vivo. ViGeneron has genetically engineered the AAV particles to enable them to more readily traverse these barriers. Furthermore, this gene therapy can be applied to multiple cell types in the retina.

Another limitation of adenoviral vectors that ViGeneron is committed to addressing is their inability to carry long DNA sequences. To overcome this challenge, ViGeneron is developing vectors that deliver different parts of a gene into cells separately. These DNA sequences are individually transcribed into mRNA molecules, which are then assembled into a single mRNA molecule containing the necessary coding information to produce therapeutic proteins.

In recent years, the field of gene therapy has been advancing steadily, with the FDA and EMA witnessing a surge in clinical trial applications utilizing this technology. ViGeneron is part of the trend toward developing next-generation gene therapies that can deliver therapeutic genes more effectively. Other companies in this space are also developing approaches to treat complex diseases involving multiple genetic mutations.

Dr. Man Xu, Co-founder and CEO of ViGeneron, stated, “The transition from small-molecule drugs to protein-based therapeutics has achieved a significant leap in therapeutic efficacy, and the emergence of next-generation gene therapies has brought new hope to patients. We are committed to delivering innovative therapies to patients. This financing will primarily support the development of our ophthalmic gene therapy products and our next-generation gene therapy technology platform. The involvement of top-tier investors and a robust ophthalmology clinical network will significantly accelerate our R&D initiatives.”

Mr. Hu Zhengguo, Co-CEO of WuXi AppTec, stated, “We are deeply impressed by ViGeneron’s vgAAV vector platform and its innovative REVeRT vector platform. These platform technologies hold promise for overcoming the limitations of traditional gene therapy vectors, paving the way for next-generation gene therapy products to tackle diseases that are difficult to cure with conventional treatments. We look forward to supporting ViGeneron in achieving greater success and benefiting more patients.”

WuXi AppTec Venture Capital Fund was established on June 29, 2011. As an investment arm under WuXi AppTec Investment Development Co., Ltd., its primary business activities include external investments using proprietary funds, investment consulting (excluding securities and futures-related services), investment management, and business information advisory services.

Sequoia Capital China was founded in September 2005 by Zhang Fan, former director of Draper Fisher Jurvetson Global Fund, and Shen Nanpeng, former President and CFO of Ctrip, in partnership with Sequoia Capital. Sequoia Capital China currently manages a total of eight funds, amounting to approximately USD 2.5 billion and over RMB 4 billion, dedicated to investing in high-growth enterprises in China. Its primary investment focus spans four sectors: technology/media, consumer goods/services, healthcare, and new energy/environmental protection/advanced manufacturing, although its portfolio is not limited to these areas.

(Compiled by Wang Fang)