CorrectSequence Therapeutics Secures Over RMB 100 Million in Series A+ Financing to Accelerate Innovative Gene Editing Pipeline

Recently,Correctseq (Shanghai) Biotechnology Co., Ltd. (“Correctseq”), a clinical-stage company focused on novel gene-editing technologies, announced the completion of its Series A+ financing round, raising over RMB 100 million.This round of financing was led by Shanghai State-owned Capital Futeng Capital, with follow-on investments from existing shareholders including New Alliance Capital, Boyu Capital, Lilly Asia Ventures, Wanwu Capital, and HongShan, all demonstrating strong support for the company’s development. The funds will further accelerate the clinical research and commercialization of CS-101, support the clinical translation of its in vivo therapeutic pipeline, facilitate global expansion, and expedite the market launch of gene-editing products to benefit patients worldwide.

Correctseq Therapeutics^™) is a clinical-stage biopharmaceutical technology company focused on novel gene-editing technologies, incubated from ShanghaiTech University. It is committed to leveraging world-advanced base editing systems to develop breakthrough precision therapies that benefit human health. The company has created multiple precision therapies based on its proprietary base editing systems, represented by the transformer Base Editor (tBE), and has established a pipeline portfolio targeting genetic diseases, metabolic disorders, cardiovascular diseases, and other indications.

The lead pipeline candidate, CS-101, is an innovative gene-editing therapy developed for hemoglobinopathies, primarily leveraging tBE to ex vivo edit patients’ autologous hematopoietic stem cells.HBG1/2Precise base editing of the promoter region restores the oxygen-carrying capacity of hemoglobin in patients, thereby achieving a complete cure for β-hemoglobinopathies. Compared with similar cell and gene therapies, CS-101 employs tBE technology and targets a more efficient and safer editing site. The tBE technology does not cause DNA double-strand breaks, effectively avoiding risks such as large fragment deletions, chromosomal translocations, and off-target mutations. Meanwhile, the edited target can more efficiently activate fetal hemoglobin expression, enabling patients to rapidly complete hematopoietic reconstitution, reach healthy hemoglobin levels faster, and become transfusion-independent earlier. In clinical trials, CS-101 has successfully enabled multiple patients with β-thalassemia to become transfusion-independent and return to normal life. The relevant clinical results were included in the Scientific Congress Report of the 2024 European Hematology Association (EHA) Annual Meeting. As a key featured project in the EHA 2024 Scientific Congress Report, Correctseq’s CS-101 demonstrates its potential to become aGlobal First-in-Class(First-in-Class) Base Editing Therapeutics andBest-in-class(Best-in-Class) The Immense Potential of Gene-Editing Therapeutics.

Shanghai State-owned Investment Futeng Capital stated: "Gene editing is a revolutionary technology in human history, with immense application potential in the pharmaceutical field. Correctseq possesses world-leading proprietary base editing technology. Leveraging its profound research expertise in gene editing and extensive drug development experience in the industry, the team is rapidly advancing the clinical translation of gene editing technologies. Shanghai State-owned Investment Futeng Capital is fully confident in the leading position and clinical application prospects of Correctseq's independently owned intellectual property in gene editing technology. We hope to accelerate the company's growth and facilitate the rapid market launch of gene editing products targeting a broader range of disease areas."

Shanghai Futeng Private Equity Fund Management Co., Ltd. is a market-oriented and professional equity fund manager (P1073500) jointly established by Shanghai State-owned Capital Investment Company as the primary sponsor, together with leading industrial groups and investment institutions such as Lingang Group, SAIC Motor, CATL, and Bilibili. With a registered capital of RMB 100 million, Shanghai State-owned Capital Futeng Capital covers the full product line of equity investment funds, including funds of funds, S funds, and direct investment funds.

Shanghai State-owned Investment Futeng Capital adheres to an investment strategy driven by industry research, with a focused emphasis on investment opportunities propelled by technological innovation. Leveraging the industrial strengths of its sponsors and shareholders, the firm provides comprehensive value-added services to its portfolio companies and subsidiary funds, including industrial resource synergy, strategic planning, corporate governance, and capitalization operations. Looking ahead, Shanghai State-owned Investment Futeng Capital will align itself with the development of Shanghai’s modern industrial system, continuously accelerate the clustering of key industrial sectors, and cultivate a highly competitive industrial ecosystem, thereby contributing to the construction of Shanghai as a global science and technology innovation hub and the implementation of the national innovation-driven development strategy.