RuiFeng Bio Completes Hundreds of Millions RMB Pre-B Financing to Advance Global First-in-Class Gene-Editing Therapy for β-Thalassemia into Clinical Trials

Guangzhou Ruifeng Biotechnology Co., Ltd. (hereinafter referred to as “Ruifeng Biotech”) recently announced the completion of a Pre-B financing round amounting to hundreds of millions of yuan. The round was led by Guangzhou YUEXIU Industrial Investment Fund Management Co.,Ltd., with participation from Ningbo Yuanyin Venture Capital Partnership (Limited Partnership), Shanfeng Venture Capital, Guangzhou emerging industry development fund management Co., Ltd, Ganyue Investment, and Guangzhou Guoju Venture Capital Co., Ltd. Existing investors China Everbright Limited, Beijing Alwin Asset Management, Ltd., and BioTrack Capital continued their support. The proceeds will be used to accelerate the clinical trials of thalassemia drugs, advance the R&D of subsequent gene-editing therapeutics, and drive innovation in underlying technologies.

Founded in 2019, Ruifeng Biotechnology is a representative enterprise excelling in youth entrepreneurship across Guangzhou, Hong Kong, and Macao. Dedicated to the development of emerging gene-editing therapeutics, the company has leveraged its continuous innovation in foundational technologies and its outstanding talent pool to secure implicit approval from the National Medical Products Administration (NMPA) for its lead product, RM-001, a gene-editing therapy for β-thalassemia, in November 2022. The product is currently undergoing Phase I clinical trials. As a curative treatment for transfusion-dependent β-thalassemia, RM-001 has demonstrated remarkable efficacy in early clinical studies, with all treated patients achieving cure, maintaining good health, and returning to normal lives. As the first global clinical study of a gene therapy targeting a novel indication for thalassemia, its data are at the forefront worldwide and were presented at the 27th European Hematology Association (EHA) Congress in 2022 and the 64th American Society of Hematology (ASH) Annual Meeting in 2022. Ruifeng Biotechnology is the first Chinese company to present clinical research findings on thalassemia at these two major international hematology conferences (European and American) and has achieved the first successful treatment of adult thalassemia patients in China.

In addition, Ruifeng Biotech has expanded its pipeline to include in vivo gene editing therapies for major diseases and genetic disorders in ophthalmology and the nervous system. Several of these projects have achieved milestone progress, demonstrating preliminary efficacy in large animal studies. Notably, Ruifeng Biotech is one of the few companies in China possessing foundational patent technologies, having attained phased achievements in tool innovation across multiple domains, including CRISPR/Cas and base editing at both the DNA and RNA levels.

Regarding this financing,Regarding Ruifeng BiologicsHe stated, “The mission of biomedical development is to safeguard health and benefit humanity. We believe that technology drives industrial innovation, and gene-editing technologies have made curative therapies possible. What we do is innovate for life, turning possibilities into reality. We thank all our existing and new shareholders for their recognition of RayWind Bio’s philosophy and mission. As we enter the clinical stage, we remain committed as ever to pragmatically developing high-quality products. We aspire for RayWind Bio to grow into a leading, globally competitive gene-editing biotech company.”

Lu Rong, Managing Partner and President of Yuexiu Industrial FundGuangzhou YUEXIU Industrial Investment Fund Management Co.,Ltd. stated: “YUEXIU Industrial Investment Fund remains bullish on the development of cell and gene therapies. Ruifeng Bio, headquartered in the Guangdong-Hong Kong-Macao Greater Bay Area, leverages next-generation biotechnologies to address significant unmet clinical needs, thereby delivering substantial social value. The Ruifeng Bio team comprises successful serial entrepreneurs and renowned scientists, characterized by a strong sense of mission and high execution capability. Starting with monogenic hereditary diseases, the team continues to explore and make breakthroughs in polygenic complex diseases. With its flagship pipeline—a cell and gene therapy for thalassemia—advancing rapidly through clinical trials, we are confident in Ruifeng Bio’s ability to consistently realize its social value in the future.”

Mr. Shen Caizhang, Healthcare Partner at Shanfeng Venture Capital“The RayWind Bio team boasts an excellent blend of industrial and scientific expertise, leveraging and innovating advanced gene-editing technologies for the treatment of genetic disorders, complex diseases, and cancer. Notably, its drug development efforts for thalassemia have achieved remarkable results. Given the large global population of thalassemia carriers, the substantial economic burden on transfusion-dependent patients, and their reduced life expectancy, RayWind Bio is poised to bring significant benefits to these patients and their families. RayWind Bio also has a robust pipeline of pioneering achievements in hematology, ophthalmology, and other fields, and we are delighted to help facilitate and accelerate the translation of these innovations into clinical applications. The RayWind team is pragmatic, cohesive, and driven by a strong sense of mission, aligning well with our fund’s principle of ‘Tech for Good.’ We are pleased to partner with them on this journey.”

Fu Yan, Chairman of Emerging Industry Fund“He stated: ‘The cell and gene therapy (CGT) sector has emerged as a vital arena for the vigorous growth of the biopharmaceutical industry in recent years, and it is also a key focus area for emerging funds. As an industry end-point developer of gene-editing therapeutics, RayWind Bio is dedicated to providing patients with fundamental, one-time curative treatments through gene-editing technology. The progress of its beta-thalassemia pipeline has demonstrated the technical capabilities and enterprising spirit of this young team. We look forward to future breakthroughs in the company’s ophthalmology and neuroscience pipelines. Emerging Funds will continue to collaborate with RayWind Bio to explore greater possibilities within the CGT industry.’”

Liu Zeshan, Partner at Ganyue CapitalGanyue Investment stated, “Ganyue Capital focuses on investments in the life sciences sector and is committed to building an industrial ecosystem. In the field of gene therapy, we have invested in multiple companies covering various sub-sectors. As a leading enterprise in gene editing technology in China, Ruifeng Biotechnology utilizes gene editing as its R&D platform and aims to achieve breakthroughs ranging from rare diseases to complex polygenic disorders. The founder, Dr. Liang, is a serial entrepreneur with a solid academic foundation and excellent management experience, embodying the ‘tech-entrepreneur’ profile we seek. With its potential for one-time administration and lifelong cure, Ruifeng Biotechnology is expected to provide superior treatment experiences for genetic diseases such as thalassemia and other major conditions, thereby benefiting a broad patient population. Looking ahead, Ganyue Capital will continue to focus on unmet clinical needs and contribute to improving human health.”

Yang Xi, Chairman of Guoju Venture Capitalstated: “The core team of RayWind Bioscience possesses successful entrepreneurial experience, with profound accumulation in industry-academia-research collaboration. With clear division of labor and highly complementary skills, the team has demonstrated exceptional execution capabilities and the strength to overcome industry barriers in recent years. Notably, its gene-editing therapy for β-thalassemia has achieved clinical efficacy at a globally leading level. Looking ahead, there are high expectations for RayWind Bioscience to leverage its proprietary novel DNA and RNA editing tools to develop a robust pipeline targeting additional indications.”

Zhang Cheng, Managing Director of China Everbright Limited“Ruifeng Bio is a top-tier gene-editing therapeutics company in China and a standout representative project for youth entrepreneurship across Guangzhou, Hong Kong, and Macao. We have witnessed the team’s exceptional technological innovation and operational capabilities. Its development pipeline, covering multiple therapeutic areas including hematopoietic disorders, ophthalmology, and neurological diseases, demonstrates impressive pioneering potential and druggability. The Guangzhou Guangkong Youth Entrepreneurship Fund for Guangzhou-Hong Kong-Macao will continue to support Ruifeng Bio, looking forward to new milestone achievements from the company.”

Liu Jiayun, Partner at Alwin Investmentstated: “Since leading the pre-A round, Alwin has been a steadfast companion, and we are delighted to have witnessed RuiFeng Bio achieve one milestone after another. Gene-editing drug development is a clinical translation sector with immense potential; as no such drugs have yet been approved globally, RuiFeng’s beta-thalassemia pipeline holds Best-in-Class potential. We look forward to the company accelerating its regulatory clinical development process to bring the drug to market sooner and benefit patients.”

RayWind Bio is a leading Chinese innovative enterprise in gene-editing therapeutics, driven by core gene-editing technologies and dedicated to the development of transformative medicines. Headquartered in Science City, Huangpu District, Guangzhou, RayWind Bio boasts one of the world’s earliest high-caliber teams applying gene editing to explore treatments for genetic diseases. The company has accumulated pioneering achievements in hematology, ophthalmology, and other therapeutic areas, building robust technical expertise in gene-editing tool innovation, drugability strategy discovery, novel animal model construction, and multi-level efficacy and safety assessment. Its R&D pipeline spans both in vivo and ex vivo innovative therapeutic modalities. Guided by its mission to leverage groundbreaking gene technologies to provide accessible and curative therapies for patients with severe diseases, RayWind Bio has established a diverse pipeline covering genetic disorders, complex diseases, and oncology. Notably, its gene-editing therapy for β-thalassemia has achieved clinical progress at a globally advanced level. The company has received numerous honors, including being named one of the “Third Independent Entrepreneurship Stars” in Huangpu District, Guangzhou (2022), a “Future Unicorn Enterprise” in Guangzhou (2022), and a “Specialized, Refined, Differential, and Innovative” SME in Guangdong Province (2022).

Guangzhou YUEXIU Industrial Investment Fund Management Co., Ltd. (hereinafter referred to as “Yuexiu Industrial Fund”) was established in 2011 and serves as the investment management platform under Yuexiu Capital. To date, the company’s cumulative assets under management have exceeded RMB 100 billion. Through years of market-oriented and professional development, the company has formed a business layout centered on fund-of-funds investments, with two wings comprising equity investments and mezzanine investments, growing into a leading industrial capital operator in the Guangdong-Hong Kong-Macao Greater Bay Area. The company has been honored with numerous awards, including “Top 3 Best Market-Oriented State-Owned Fund of Funds in China,” “Top 10 Best Returns for Market-Oriented Fund of Funds in China,” “Top 10 Best Private Equity Firms in the Guangdong-Hong Kong-Macao Greater Bay Area,” “Top 10 Most Influential Real Estate Funds in China,” and “Top 20 Best Chinese Private Equity Firms in China.”

Shanfeng Venture Capital is a venture capital brand jointly established by Xtep Investments and Gongshan Fund. It represents the organic integration of technology investment expertise and renowned industrial entrepreneurship, adhering to the philosophy of “craftsmanship spirit and technology for good.” The management team comprises graduates from top domestic and international universities, with extensive industry and financial backgrounds including hands-on entrepreneurial experience and successful IPOs.

Guangzhou Emerging Industry Development Fund Management Co., Ltd. (hereinafter referred to as “Emerging Fund”) is a wholly-owned subsidiary of Guangzhou Fund, which is under the Guangzhou City Construction Investment Group. Established as a government industrial fund platform to support the Guangzhou Municipal Government’s strategic deployment for industrial transformation and upgrading, Emerging Fund manages the Guangzhou Emerging Industry Development Guidance Fund, the Industrial and Information Technology Development Fund, and the Seed Industry Development Fund. In collaboration with numerous outstanding fund management firms and industry leaders, it has established over 100 sub-funds. Furthermore, by setting up and independently managing multiple market-oriented investment funds and S-funds (secondary funds), Emerging Fund has constructed a “Fund of Funds (FoF) + S-Fund + Direct Investment Fund” PSD strategy model. In terms of market-oriented operations, Emerging Fund has built specialized investment teams focused on four major industrial chains: biomedicine, new materials, intelligent connected vehicles, and new energy. To date, the sub-funds and market-oriented funds managed by Emerging Fund have cumulatively invested in more than 650 projects, including over 300 local projects in Guangzhou. This has helped local Guangzhou enterprises such as Huidu Micro, Yaoshibang, XAG, and Pony.ai grow into global unicorns, and supported the listing of more than 60 companies, including XPeng Motors, Fangbang Electronics, Amlogic Semiconductor, Jet Biofil, and Bio-Thera Solutions.

Ganyue Capital (IFSC), established in 2014, is a private equity investment firm specializing in the biotechnology and life sciences sectors. Guided by the investment philosophy of “basic science-driven value investing,” the firm identifies and supports “scientific entrepreneurs.” It focuses on investment opportunities in leading companies within fields such as synthetic biology, neuroscience, cell and gene therapy, regenerative medicine, biomaterials, and reproductive and ophthalmic healthcare. The investment team comprises professionals with expertise in life sciences, pharmaceuticals, biotechnology, engineering, mathematics, finance, and law, dedicated to in-depth research into high-quality projects within niche segments. With an orientation toward achieving high success rates, we strive to generate consistent and stable investment returns for our investors.

Guangzhou Guoju Venture Capital Co., Ltd. is a wholly-owned private equity fund subsidiary of Guangzhou High-Tech Industrial Development Zone Group. Established in January 2015 with a registered capital of RMB 1 billion, the company manages and participates in funds totaling over RMB 3 billion. As a key capital operation platform for the High-Tech Zone Group to strengthen government-enterprise collaboration, industry-finance integration, and investment across the entire biomedical industrial chain, Guoju Venture Capital leverages the Group’s strategic layout in the biomedicine and health sectors. Adopting a “fund of funds + direct investment” approach, it actively promotes investment promotion and capital deployment in the biopharmaceutical sector of Guangzhou Development District, striving to become a leading state-owned venture capital firm in the biopharmaceutical industry within the Guangdong-Hong Kong-Macao Greater Bay Area and a well-known market-oriented fund of funds management institution in China.

China Everbright Limited (“Everbright Limited”, Stock Code: 165.HK), a subsidiary of China Everbright Group, is a Hong Kong-listed company with over 25 years of experience in cross-border asset management and private equity investment, focusing on private fund management and investment as its core business. Everbright Limited’s Fund of Funds serves as the equity fund-of-funds management arm under Everbright Limited, specializing in establishing industrial funds of funds in partnership with local governments, financial institutions, and large state-owned enterprises. It facilitates access to high-quality projects through investments in sub-funds and direct investments, thereby promoting local industrial development. The Guangzhou Everbright Control Sui-Gang-Ao Youth Entrepreneurship Fund was established through a collaboration between the Guangzhou Science and Technology Achievement Industrialization Guidance Fund and Everbright Limited’s Fund of Funds. It is dedicated to supporting high-quality entrepreneurship and innovation projects led by young entrepreneurs from Hong Kong, Macao, and Taiwan in their establishment and commercialization in Guangzhou.

Alwin Investment focuses on the frontiers of life sciences, conducting in-depth research and integrating knowledge with action. By navigating non-consensus areas, it objectively and pragmatically invests in genuine medical translation opportunities. The core team at Alwin Investment possesses extensive experience in both industry and capital markets. Believing in the power of research and committed to long-term investment, the firm steadily builds a corporate ecosystem, striving to generate systematic excess returns for its investors.

BioTrack Capital, established in 2017, is a professional investment firm dedicated to investing in and incubating outstanding healthcare startups in the Chinese market. Currently, BioTrack Capital manages two RMB-denominated funds and two USD-denominated funds, with total assets under management exceeding RMB 7 billion. More than just an investor, BioTrack Capital serves as a long-term partner to entrepreneurs. Since its inception, the firm has remained entrepreneur-centric, consistently supporting and empowering top-tier healthcare entrepreneurs, fostering an industry ecosystem, and cultivating the next generation of leading enterprises in China’s healthcare sector.