NGGT Announces $40 Million Series B Financing to Advance Innovative Gene Therapy Pipeline

VCBeat has learned that innovative gene therapy drug developer NoJieBei recently announced the completion of its Series B financing round, raising nearly $40 million. The round was led by SHC (Shanghai Healthcare Capital), with participation from Detong Capital, Infinity Fund, Zhongxin Capital, and Guangda Huitong.and Suzhou Lingjun Venture Capitalwith co-investment from several well-known institutions, including existing shareholders Weidu Capital and Northern Light Venture CapitalVCBeatContinued capital injection.The funds raised in this round of financing will be primarily used for the production of clinical trial samples and the conduct of early-stage clinical trials.

Since its establishment in 2020, NoJieBei has fully completed the construction of a 1,000L-scale cGMP production system with internationally advanced capabilities. Currently, multiple differentiated R&D pipelines of the company have completed investigator-initiated trials (IITs) or are undergoing registrational clinical studies.

NGGT001 is a gene therapy drug for retinitis pigmentosa, having completed a proof-of-concept investigator-initiated trial (IIT) that demonstrated favorable safety and preliminary efficacy, and received FDA Investigational New Drug (IND) approval in April 2023;NGGT002 is a systemically administered gene therapy drug for metabolic diseases.As of now, the IIT study has completed patient dosing at low and medium doses, demonstrating a favorable safety profile and preliminary efficacy, and received FDA Orphan Drug Designation in January 2023.

In addition, NoJieBei has initiated clinical investigator-initiated trials (IITs) for multiple pipelines, which are scheduled to enter clinical stages sequentially over the next two years.

Dr. Jiang Lixin, Founder of NoJieBeiWith 25 years of R&D and management experience in gene therapy and related biopharmaceuticals, led the IND applications and clinical studies for four gene therapy drugs. Presided over the National Development and Reform Commission’s High-Tech Industrialization Demonstration Project “Development and Industrialization of Gene Vector Platform Technology,” as well as several National Major New Drug Creation Special Projects, including “Key Technologies for Gene Therapy Drugs in Treating Viral Infections,” “Development of Gene-Based Drugs Against HIV,” and “R&D of Gene-Based Drugs Against Hepatitis B Virus Infection.”

Co-founder Dr. Qu GuangWith over 30 years of experience in the development of gene therapy drugs, Dr. Qu Guang has conducted research in the laboratories of renowned scholars in the field of gene therapy, James Wilson and Kathy High. He was also responsible for process development of AAV viral vectors at Avigen, one of the earliest gene therapy companies in the United States. In 2013, with the establishment of Spark Therapeutics, Dr. Qu served as Vice President, overseeing process development and new technology development for all its products. At Suzhou NoJieBei Biotechnology Co., Ltd., Dr. Qu led the preparation of clinical trial samples for four projects, among which the NGGT-001 product set a record by passing the FDA’s IND review without any CMC-related issues.

Exterior View of the GMP Building

Dr. Jiang Lixin, Founder of NoJieBeiHe stated, “Gene therapy represents a new niche segment within the pharmaceutical industry, offering disruptive therapeutic agents that provide long-term benefits through single-dose administration for diseases requiring lifelong or prolonged treatment. Large-scale involvement by the industry is only just beginning, holding extremely broad application prospects and commercial value. We extend our gratitude to the Shanghai Healthcare Capital (SHC) and other institutions for their trust and support, as well as to our existing shareholders for their continued increased holdings. We are firmly convinced that, with the support of outstanding capital, our technological expertise will surely bring hope of life to patients.”

Fermentation Workshop

Dr. Wen Hong, Partner at SHCstated: “Gene therapy drugs hold immense potential to address numerous unmet clinical needs. We are optimistic about the prospects of this sector, and we have even greater confidence in NoJieBei’s team, given their industrialization experience and highly efficient management style. In less than three years since its establishment, the company has built a unique R&D pipeline and completed the construction of advanced CMC facilities for gene therapy products. Leveraging this platform, it has initiated three investigator-initiated trials (IITs), obtained one FDA IND approval, and received one orphan drug designation. We are bullish on NoJieBei’s development prospects and will provide long-term support.”