BenthoGene Secures Over RMB 200 Million in Series B Financing to Advance Pioneering In Vivo Gene Editing Therapies

VCBeat News learned that Shanghai Bendao Gene Technology Co., Ltd. (“Bendao Gene”) has recently completed its Series B financing round, led by Longpan Investment, with participation from Penglai Capital, Tongde Capital, Shanlan Capital, and Chunhe Capital. The total funding amount exceeded RMB 200 million. Ouzhong Capital served as the financial advisor for this financing round.

"This round of financing will support Bendao Gene in advancing the clinical trial applications and studies for multiple pipelines under development, further developing new pipelines, as well as expanding its facilities and team."

Bendao Gene, founded in 2018, is an innovative drug R&D enterprise specializing in gene therapy. It is dedicated to developing globally significant innovative therapies for refractory diseases across multiple fields, including ophthalmology, the nervous system, the hematopoietic system, viral infections, and oncology. Bendao Gene possesses an internationally leading VLP mRNA delivery platform (BDmRNA) and a next-generation lentiviral vector platform (BDlenti).Centered on its core delivery technology platform, Bendao Gene has established multiple first-in-class product pipelines, conducted numerous first-in-human clinical studies, and engaged in collaborative R&D with leading international pharmaceutical companies on novel therapies for major neurological disorders. The company’s core technologies have been published repeatedly in prestigious journals such as Nature Biotechnology and Nature Biomedical Engineering. Its CRISPR-based antiviral therapy, HELP, was successfully selected as one of the “Top Ten Advances in Chinese Ophthalmology” in 2021.

Bendao Gene pioneered clinical research on in vivo gene editing for antiviral therapy internationally. On April 28, 2023, its investigational new drug (IND) application for BD111 ophthalmic injection, intended for the treatment of herpes simplex virus type 1 (HSV-1) stromal keratitis, received implicit approval from the Center for Drug Evaluation (CDE) of the National Medical Products Administration (NMPA).BD111 utilizes Bendao Gene’s proprietary novel gene therapy vector—virus-like particles (VLPs)—to deliver CRISPR gene-editing tools that directly target and cleave the herpes simplex virus genome, thereby reducing or even eliminating the HSV-1 genome to achieve treatment of herpes simplex keratitis. BD111 is the third in vivo gene-editing therapeutic candidate globally to enter the IND-enabling and clinical stages, following Editas Medicine and Intellia Therapeutics’ in vivo gene-editing pipelines, and it is also the world’s first CRISPR-based antiviral gene-editing drug. BD111 received Orphan Drug Designation from the U.S. FDA in June 2022.Furthermore, significant clinical breakthroughs have been achieved in the gene therapy for macular degeneration and thalassemia.

Dr. Cai Yujia, founder of Bendao Gene, stated:Life and health represent humanity’s relentless pursuit and an enduring necessity for societal development. We are delighted to welcome new shareholders into Bendao Gene, supporting our dream of developing globally first-in-class in vivo gene editing therapies and fulfilling our long-held aspiration to create “Made in China” novel drugs for patients with refractory diseases who currently have no treatment options. The completion of this financing round will enable Bendao Gene to advance registrational clinical studies across multiple pipelines, including in vivo gene editing for viral keratitis. It will further leverage the platform advantages of our VLP and BDlenti delivery technologies, staying innovation-driven and patient-focused, to explore new pipelines for a broader range of diseases and conditions, thereby helping a wider patient population achieve freedom from disease. Innovation demands both wisdom and courage. Bendao Gene will remain committed, as always, to keeping patients and our dreams at heart, progressing steadily and resolutely forward.

Bendao GeneCEO XuMs. Fang stated:Bendao possesses a proprietary virus-like particle (VLP) gene therapy delivery platform, featuring a rich, balanced, and differentiated pipeline. The approval of the Investigational New Drug (IND) application for BD111 in late April marks regulatory recognition of the Company’s VLP technology and represents a significant milestone in its development. In the near future, one to two additional products are expected to enter clinical trials sequentially. We sincerely appreciate the trust placed in us by our investors. We are committed to executing our work with rigor and diligence, aiming to benefit patients as soon as possible. Meanwhile, we are actively preparing submissions to the U.S. Food and Drug Administration (FDA), with the aspiration of expanding our products into international markets and pursuing strategic collaborations with more enterprises.

Founding Partner, Longpan InvestmentYu ZhihuaMr. stated:Bendao Gene is a gene therapy drug development company with proprietary platform technologies, in which we have strong confidence. The company’s independently developed virus-like particle (VLP) delivery technology is at the international forefront, and its selection of indications fully leverages the company’s technological strengths while addressing unmet clinical needs. The delivery technology platform demonstrates excellent scalability and can be applied across multiple therapeutic areas; its rich pipeline portfolio further underscores its value and significant growth potential. Dr. Cai and his team have demonstrated outstanding innovative R&D capabilities and efficient execution, positioning them well to develop differentiated, globally innovative pipelines. We are delighted to participate in Bendao Gene’s growth through investment and will leverage our resources and experience to support the founding team and facilitate the company’s development. We look forward to Bendao Gene accelerating its clinical development and bringing its products to market as soon as possible, thereby benefiting patients both in China and abroad.

Lu Jun, Founding Partner of Penglai Capital, stated:We have taken note of Bendao Gene’s delivery vector technology, which effectively addresses critical technical bottlenecks in the field of gene therapy and can be widely applied to various diseases. We are confident that under Dr. Cai’s leadership, the company will achieve one milestone after another in CMC, clinical development, and pipeline expansion, with the potential to gradually emerge as a benchmark in China’s CGT sector.

Dr. Xiao Zhenyu, Chairman of Tongde Capital, stated:Gene therapy is a promising direction we are bullish on. The company possesses proprietary VLP delivery technology, which can deliver mRNA and proteins that viral vectors cannot. Furthermore, by engineering envelope proteins, it enables tissue- and cell-specific targeted delivery. It is a great honor to invest in the Bendao Gene team. We look forward to the company becoming a leader in the field of gene therapy, developing urgently needed clinical therapeutics, and truly benefiting patients.

Zhang Lei, Investment Director at Shanlan Capital, stated:The primary constraints on the development of gene therapy technology in China are the lack of independent intellectual property rights in delivery vectors and gene design, as well as the absence of efficient large-scale manufacturing capabilities. Bendao Gene has already addressed these three major bottlenecks in gene therapy. The company possesses a platform technology for VLP (Virus-Like Particle) delivery vectors with independent intellectual property rights, along with genomically optimized Cargo gene sequences. Furthermore, it has developed VLPs and integrating/non-integrating delivery vectors based on lentiviruses, featuring mature and simplified production processes with low costs. Under the leadership of Dr. Cai, and leveraging its proprietary in vivo gene delivery platform technology alongside top-tier clinical resources in China, Bendao Gene is poised to efficiently advance the R&D of its pipeline products and become an internationally leading gene therapy company.

Chunhe Capital stated:Bendao Gene holds unique advantages in the delivery of targeted gene therapy vectors. The company has a well-structured pipeline that not only ensures the likelihood of near-term drug commercialization but also leverages its platform-based delivery technology to provide broad prospects for future new drug development. We are particularly optimistic about BD111, currently under development by the company, which is the first gene-editing antiviral drug. The approval of this candidate demonstrates the clinical feasibility of the VLP platform and reflects regulatory recognition and support for innovation, marking a pioneering milestone in the field of gene therapy.

About Longpan Investment

Longpan Investment, headquartered in Beijing, is a leading venture capital firm specializing in biomedicine in China. Currently, Longpan Investment manages five RMB-denominated funds and one USD-denominated fund, with total assets under management exceeding RMB 10 billion. It is the only biomedical investment institution to have received capital commitments from both of China’s top two RMB limited partners: the National Social Security Fund and the National Small and Medium Enterprises Development Fund. Longpan Investment focuses on innovative drugs and innovative medical devices, primarily investing at the startup, early, and growth stages. To date, it has invested in more than 70 innovative drug companies and over 20 innovative medical device companies, including numerous star projects such as Beta Pharma (SZ.300558), RemeGen (SH.688331), Yihua Pharmaceutical (SH.688176), SporeBiotech, BinHui Biotech, ImmuneOnco, Huahao Zhongtian, and Aier Eye Hospital Group’s subsidiary Aibo Medical (SH.688050). Many partners in Longpan Investment’s management team possess over 20 years of R&D and management experience in the international and domestic biomedical industries, enabling them to provide comprehensive value-added services to portfolio companies.

About Penglai Capital

PengLai Capital is an early-stage investment and incubation firm focused on the biotechnology sector, co-founded by professionals with backgrounds as biomedical investors, founders of biotech companies, and founders of media organizations in the life sciences industry. Upholding the philosophy of “treating human diseases with human-centric approaches,” PengLai Capital is deeply engaged in the field of cell and gene therapy. The firm will continue to monitor cutting-edge breakthroughs in biotechnology across areas such as disease treatment, longevity enhancement, and material synthesis.

About Tongde Capital

Nanjing Fosun Tongrui Fund is a venture capital fund under Fosun Pharma (600196.SH, 02196.HK). Established in July 2021 with the support of Nanjing Jiangbei Science and Technology Investment Group, the fund has a size of RMB 500 million and focuses on investing in early- to mid-stage biopharmaceutical companies. Tongde Capital serves as the fund manager. Tongde Capital is a VC firm specializing in biopharmaceutical investments, primarily targeting innovative drugs and innovative biotechnologies, with an emphasis on early-stage and growth-stage projects. The team boasts extensive industry background, abundant industrial and financial resources, and a proven track record of incubating and helping portfolio companies become industry leaders. Previous investments include Henlius (HK: 02696), HaiChuang Pharmaceuticals (SH: 688302), Diamedica (NASDAQ: DMAC), Aadi Bioscience (NASDAQ: AADI), ASC Therapeutics, Nico Medical, Biocytogen Pharmaceuticals, and Aurealis Pharma.

About Shanlan Capital

Shanlan Capital is a specialized fund focused on early-stage investments in the healthcare industry, targeting high-growth segments such as innovative medical devices (in vitro diagnostics and gene technologies, minimally invasive interventions, implantable devices, minimally invasive surgical instruments, and medical robotics), innovative biopharmaceuticals, life sciences, and healthcare services. The firm has invested in over 50 leading healthcare and pharmaceutical companies, including Guoke Hengtai, Haina Pharmaceutical, Deepwise Medical, Shengshi Taike, Baichen Medical, Zhishan Medical, Qianglian Zhichuang, Weike Medical, Ligetai, Langhe Medical, and Puqi Pharmaceutical. Shanlan Capital’s core team comprises founders of publicly listed healthcare companies, as well as professionals with expertise in the medical and pharmaceutical industries, finance, and strategic investment. The firm provides value-added services to its portfolio companies in areas such as strategy formulation, talent acquisition, R&D, marketing, legal and regulatory compliance, mergers and acquisitions, IPOs, and industry association resources. It also assists portfolio companies in integrating advanced international technologies and establishing global operational concepts and standards, thereby fostering continuous innovation and development.

About Chunhe Capital

Chunhe Capital, headquartered in Hangzhou, is a RMB-denominated venture capital firm dedicated to investment opportunities in China’s biopharmaceutical sector. Its investment scope spans early-to-mid stage, growth stage, and mature stage companies. The fund focuses on technologically advanced biopharmaceutical enterprises, with key market segments including innovative chemical drugs, innovative biologics, and high-end medical devices. It provides comprehensive value-added services urgently needed by its portfolio companies engaged in innovative drugs and medical devices in China. The company’s core team comprises graduates from prestigious Chinese institutions such as Zhejiang University, Peking University, and the Chinese Academy of Sciences, bringing years of industry experience in healthcare and biopharmaceuticals, along with extensive investment expertise in the pharmaceutical sector.