Xinya Gene Completes Tens of Millions of USD Series A Financing to Advance Base Editing Therapeutics for Duchenne Muscular Dystrophy and Other Genetic Disorders

Recently, in Suzhou, China, GenAssist Therapeutics, the first domestic company to develop gene therapy drugs using base editing technology, announced the completion of a Series A financing round worth tens of millions of US dollars.

This funding round was led by the AstraZeneca CICC Healthcare Industry Fund, with participation from Baidu Ventures and a prominent private equity firm. Existing investor Sequoia China continued to increase its investment, while Taihe Capital served as the exclusive financial advisor. Founded in July 2020, GenAssist Therapeutics leverages its TAM base editing technology platform to develop gene therapies addressing significant unmet clinical needs. The company’s lead product targets Duchenne Muscular Dystrophy (DMD) caused by various genetic mutations. The proceeds from this round will be used to advance the preclinical research, Investigational New Drug (IND) applications, and clinical trials for multiple base editing therapeutic pipelines.

The AstraZeneca CICC Healthcare Industry Fund is a private equity fund jointly initiated by AstraZeneca and CICC Capital, focusing on investments in the healthcare industry. By integrating AstraZeneca’s global industrial strengths with CICC Capital’s extensive experience in capital operations, the fund concentrates on investment sectors such as biopharmaceuticals, medical devices, diagnostic services, and digital health. It is committed to pooling industrial and financial resources to provide bidirectional, full-lifecycle empowerment to enterprises and investment partners, jointly fostering innovative development in China’s healthcare industry.

Baidu Ventures focuses primarily on early-stage pioneer companies in emerging technologies, dedicating its efforts to key sectors such as commercial consumption, healthcare and livelihoods, and technological expansion. In the field of artificial intelligence, Baidu Ventures has strategically deployed its investments, which currently span new energy vehicles, life sciences, enterprise services, smart cities, semiconductors, smart industry, and IoT-enabled living. It is through finer granularity and more rigorous, exceptional standards that innovative technologies are fostered. Baidu Ventures aims to discover more enterprises that integrate innovative technology into every detail. It will continue to support industries across various sectors that contribute to the advancement of modern human civilization, working alongside outstanding companies to paint a brighter future for society.