RuiFeng Bio Secures Hundreds of Millions RMB in New Financing to Advance Innovative Gene-Editing Therapeutics

December 30, 2024—Guangzhou Ruifeng Biotechnology Co., Ltd. (hereinafter referred to as “Ruifeng Biotech”) announced that it has successfully secured a new round of financing amounting to hundreds of millions of RMB. This round was led by Guangzhou State-owned Development Holding Co., Ltd., with participation from Guangzhou Finance Holdings Group Co., Ltd., Guangzhou Science and Technology Innovation Investment Financial Holdings Ltd., and existing shareholder Ganyue Investment, among other institutions. The funds will be primarily used to advance the clinical trials of Ruifeng Biotech’s gene-editing drugs, expand its subsequent R&D pipeline, and drive innovation in core technologies.

Gene editing technology is the shining crown jewel of biotechnology. RayWind Bio is a leading global innovator in gene-editing therapeutics with a worldwide perspective. Founded in 2019 and headquartered in Guangzhou, the company is dedicated to providing curative therapies for patients around the world.

Leveraging its robust innovation capabilities, Ruifeng Bio has achieved multiple world-leading breakthroughs in the development of gene-editing therapeutics. Currently, Ruifeng Bio is the only innovative biotechnology company globally to have demonstrated cures for both α- and β-thalassemia, two major forms of hereditary thalassemia. Thalassemia affects a large global population, representing a significant unmet clinical need. Ruifeng Bio’s lead candidate, RM-001 for β-thalassemia, pioneered the first clinical study worldwide based on a novel gene-editing target, delivering internationally leading clinical efficacy. All trial participants rapidly achieved transfusion independence and were cured, demonstrating best-in-class potential. Confirmatory clinical trials are expected to commence in the near future.

Meanwhile, RayWind Bio has achieved a major breakthrough in the field of α-thalassemia. Its innovative gene-editing drug, RM-004, has successfully cured the first patient, demonstrating its First-in-Class potential. This is the first and only innovative drug internationally to achieve a cure for patients with α-thalassemia.

In the field of ophthalmic drugs, RM-101, the world’s first drug for Usher syndrome (a retinal disease), received approval from Chinese and U.S. regulatory authorities in 2024 to commence clinical trials. In its medium- to long-term strategic planning, the company has also laid out a pipeline of in vivo gene-editing therapies for major diseases in areas such as the central nervous system (CNS) and liver, with some projects having achieved milestone progress.

As a key component of its corporate strategic development, RayBiotech has also built its core technology platform—TIPBIG™. This platform integrates genomics, artificial intelligence, and experimental biology to drive innovation in multiple critical technologies, including gene-editing tools. RayBiotech is one of the few innovative biotechnology companies in China that possesses an independent portfolio of proprietary gene-editing technology tools. It has filed multiple patent families globally, covering systems such as CRISPR/Cas12, CRISPR/Cas13, and base editing, thereby establishing a robust intellectual property network.

Currently, Ruifeng Biotech is leading multiple national, provincial, and municipal science and technology projects, including the “National Key R&D Program: Key Special Project on Disruptive Technology Innovation” and the “2022 Guangdong Province Key Area R&D Program.” The company has been selected as a “China Potential Unicorn Enterprise” for two consecutive years and as a “Guangzhou Future Unicorn Enterprise” for three consecutive years. Additionally, the company has received numerous honors from industry media and professional institutions, such as “Top 10 Guangzhou Sci-Tech Innovation Leaders 2024,” “2024 Future Healthcare 100 – China Innovative Pharmaceuticals and Biological Products List,” and “2023 Future Healthcare 100 – China Innovative Biopharmaceuticals List.”

Amid intensifying global competition in life sciences innovation, this financing round represents not only a capital injection for RayWind Biologics but also a testament to market confidence. “We are deeply honored to secure this significant funding in the current market environment. This achievement not only underscores strong recognition of our innovative capabilities and R&D accomplishments but also injects robust momentum into our subsequent strategic initiatives.”RayWind BioHe stated, “Gene editing technology acts on the most fundamental genetic code of life, bringing curative value to disease treatment and representing a paradigm shift. In this field, we are fully unleashing the value of this revolutionary technology for life and health. We thank our new and existing investors for their trust and support. The innovation environment is fraught with challenges and obstacles, but we will always uphold our strong belief in innovating for life, pressing forward against the headwinds to drive Ruifeng Bio to become a leading enterprise in the global biopharmaceutical industry.”

Head of Guangzhou State-owned Development Holding Co., Ltd.stated: “The biopharmaceutical and health industry is one of the emerging pillar industries of global concern, and it is a strategic emerging industrial sector in which we focus our investments. We are highly optimistic about the core value of the Cell and Gene Therapy (CGT) track within the life sciences field. This investment in Ruifeng Biotechnology not only reflects our continued confidence in the CGT sector but also embodies our investment philosophy. We value Ruifeng Biotechnology’s innovation capabilities and development potential, and we anticipate that its disruptive innovations in gene editing will bring transformation to the entire industry. Moving forward, Guangzhou Industrial Investment Capital will strengthen post-investment management and empowerment to accelerate Ruifeng Biotechnology’s R&D and industrialization of innovative gene-editing drugs.”

Nie Huiming, Head of Biomedical Investment at Guangzhou Finance Holdings Group FundHe stated, “Technological innovation in the biopharmaceutical industry is the key driver of overall sector advancement. We pay particular attention to trends in cutting-edge, high-end pharmaceutical innovation and are committed to partnering with outstanding entrepreneurs to support their exploratory and innovative efforts. Our investment in Ruifeng Bio is driven not only by its leading position in the industry but also by the potential of its team and its sustained pursuit of innovation. We believe that its technologies will ultimately provide patients with safe, controllable, and curative treatment outcomes for clinical diseases.”

Kejin HoldingsHe stated: “Over the past two years, we have actively focused on and promoted investments in the cell and gene therapy (CGT) sector. By combining ‘local incubation’ with ‘external attraction,’ we are helping Guangzhou accelerate the construction of a CGT industrial ecosystem. As a leading representative in gene-editing drug development both in China and globally, Guangzhou Ruifeng Biotechnology has achieved a significant milestone: its beta-thalassemia pipeline drug has enabled 19 patients to completely摆脱 transfusion dependence in early-stage clinical trials. This breakthrough not only saves the lives of these adolescent and pediatric patients and their families but also alleviates pressure on regional blood banks, demonstrating substantial social benefits. Leveraging their exploratory practices in biotechnology, they have proven the prospects and value of gene therapy drugs. This aligns perfectly with our commitment to nurturing new quality productive forces in modern cities, adding pharmaceutical innovation momentum to enhance the health and well-being of urban residents!”

Liu Zeshan, Partner at Ganyue CapitalGanyue Investment stated: “Ganyue Capital focuses on investments in the life sciences sector. Based on our research and understanding of basic science, we believe that gene therapy is one of the most commercially valuable frontier areas in pharmaceuticals for the future. As an investor in Ruifeng Biologics for two consecutive funding rounds, we have accompanied the company throughout its journey and witnessed its sustained and healthy development. This follow-on investment reflects our confidence in the Best-in-Class and First-in-Class potential of Ruifeng Biologics’ gene-editing drugs, which are better positioned to address patients’ urgent clinical needs. We look forward to the company accelerating its clinical translation process and achieving market launch at an early date, thereby contributing to patient health.”

Guangzhou Industrial Investment Holding Group Co., Ltd. (hereinafter referred to as "Guangzhou Industrial Investment") was formerly known as Guangzhou State-owned Development Holding Co., Ltd., the first state-owned capital investment and operation platform established in Guangzhou in 2016, and was restructured and began operations on December 3, 2021. Adhering to the philosophy of “Investing in Guangzhou, Investing in the Real Economy, and Investing in the Future,” Guangzhou Industrial Investment embraces the industrial development mindset of “patient capital.” Based on its three core functional positionings as a strategic investment and development platform, a state-owned equity holding platform, and a capital operation and management platform, the company actively assumes the dual roles of an industrial investment bank and a capital operator. It holds controlling or participating stakes in more than ten listed companies, including GAC Group, Guangzhou Pharmaceutical Holdings, Guangzhou Development Group, Pearl River Beer, Guangzhou Restaurant Group, Pearl River Piano Group, Lingnan Holdings, PowerChina, Farasis Energy, and Metro Design Institute, as well as in a batch of leading enterprises such as Yuexiu Group, Guoxin Securities, Tsinghua Unigroup, CanSemi, and CAS Space. The company spearheaded the establishment and operation of the RMB 150 billion Guangzhou Industrial Investment Fund of Funds and the RMB 50 billion Guangzhou Innovation Investment Fund of Funds. The Group owns four fund management companies, has invested in and collaborated with top-tier institutions to establish over 50 funds, and provides full-chain fund investment services. For five consecutive years, it has ranked among the “Top 500 Chinese Enterprises” and the “Top 500 Chinese Service Enterprises,” striving to build a first-class, market-oriented, professional, and international state-owned capital investment and operation platform.

Guangzhou Financial Holdings Fund, as the equity investment fund management platform under Guangzhou Finance Holdings Group Co., Ltd., a municipal state-owned enterprise in Guangzhou, actively leverages the “five-in-one” functional role of its fund cluster. It provides capital empowerment to support major strategic initiatives at the provincial and municipal levels, including “Manufacturing as the Foundation of the City,” “Manufacturing as the Core Driver,” and the “High-Quality Development Project for Hundreds of Counties, Thousands of Towns, and Tens of Thousands of Villages.” Currently, Guangzhou Financial Holdings Fund relies on government-guided funds—such as the Science and Technology Innovation Fund of Funds, the State-Owned Enterprise Innovation Fund, and district-level investment funds—as well as market-oriented funds, including urban renewal funds, rural revitalization funds, and life and health funds. By leveraging co-investment through subsidiary funds and direct investment funds, it mobilizes social capital to provide financial support to enterprises.

Kejin Holdings is a professional equity investment management institution under Guangzhou Fund and one of the earliest venture capital firms established in China. Adhering to the investment philosophy of “Investment + Investment Banking + Trading,” the company consistently follows the strategic direction of “investing early, investing in small enterprises, and investing in hard technology.” It focuses on strategic emerging industries such as biopharmaceuticals, next-generation information technology, new energy, new materials, and advanced manufacturing. Since its inception, Kejin Holdings has supported the growth and expansion of a large number of high-quality sci-tech innovative enterprises, with a cumulative total of 210 invested projects. Currently, in the fields of biopharmaceuticals and big health, it has invested in several prominent star enterprises, including Wondfo Biotech, Cloud Health Group, Tianpu Pharmaceutical, and Heyuan Biology.

Ganyue Capital (IFSC), established in 2014, is a private equity investment institution specializing in biotechnology and life sciences (Fund Registration No.: P1065723). Guided by the investment philosophy of “basic science-driven value investing,” the firm identifies “scientific entrepreneurs” and focuses on leading enterprises in synthetic biology, neuroscience, cell and gene therapy, regenerative medicine, biomaterials, reproductive health, and ophthalmology. Committed to addressing unmet clinical needs and contributing to improved human health, Ganyue Capital’s investment team comprises professionals from diverse fields including life sciences, pharmaceuticals, biotechnology, engineering, mathematics, finance, and law. By concentrating on top-tier investment opportunities within niche sectors and prioritizing high-probability outcomes, the firm aims to deliver consistent and stable returns for its investors.

RayWind Biosciences is a leading Chinese innovative enterprise in gene-editing therapeutics, driven by core gene-editing technologies and dedicated to the development of groundbreaking medicines. As one of the early high-caliber teams globally to apply gene editing for exploring treatments of genetic diseases, RayWind Biosciences has achieved pioneering results in hematology, ophthalmology, and other therapeutic areas. The company has established robust technical expertise across multiple dimensions, including innovation in gene-editing tools, drugability strategy discovery, construction of novel animal models, and multi-level efficacy and safety assessments. It maintains two major innovative drug pipelines: in vivo and ex vivo therapies. Guided by its mission to leverage revolutionary gene technologies to provide accessible and curative therapies for patients with severe diseases, RayWind Biosciences has built a diverse pipeline spanning genetic disorders, complex diseases, and oncology. Notably, its innovative therapy for β-thalassemia has achieved clinical progress at a globally leading level; it has realized a breakthrough with the world’s first cured patient in α-thalassemia; and its Investigational New Drug (IND) application for the world’s first gene-editing therapy for Usher syndrome has been approved by regulatory authorities in both China and the United States.