CRISPR Therapeutics Firm Kerui Gene Secures $60 Million Series B Financing to Advance Innovative Cell and Gene Therapy Pipeline

On January 5, 2022, Suzhou Kerui Gene Biotechnology Co., Ltd. (hereinafter referred to as “Kerui Gene”) announced the completion of its $60 million Series B financing round. The round was led by strategic investor Advantech Capital, with participation from Yuanhe Holdings, Blue Ocean Capital, Qiming Venture Partners, and other institutions. China Renaissance served as the exclusive financial advisor.

This round of financing will be primarily used to accelerate the clinical development of Kerui Gene’s cell therapy products for hematologic and solid tumors, and to advance the development and international collaboration on innovative AAV serotype screening and gene-editing products. To date, Kerui Gene has raised nearly $100 million in cumulative financing.

“We sincerely appreciate the support and recognition from leading professional investment institutions,” said Dr. Xu Yuanyuan, Chairman of Kerui Gene. “Kerui Gene has remained focused on the field of gene and cell therapy. Over the past few years, we have established a unique technological platform in gene editing, vector delivery, and cell engineering. Recently, we have also made rapid progress in macromolecule construction and related technologies. By integrating the advantages of various innovative technologies, we have laid a solid scientific foundation for building and expanding our pipeline of source-innovative products. Leveraging years of scientific and technological accumulation, Kerui Gene is rapidly translating its expertise into product development. This round of financing is of significant importance for accelerating the translation of scientific achievements, new product development, and international collaboration.”

Qiu Yumin, Partner at Shangcheng Investment, stated, “The field of gene and cell therapy holds immense potential in both clinical applications and commercialization. Shangcheng Investment has long focused on investments in the technology and healthcare sectors. As the lead investor in this financing round, we highly recognize Kerui Gene’s leading technology platform and scientific research capabilities. Kerui Gene is a gene and cell therapy enterprise with high-barrier technological innovation capabilities, and its technology platform and research achievements have reached an internationally leading level. We believe that Kerui Gene’s experienced R&D team can drive further innovative development of its product pipeline.”

Suzhou Kerui Gene, founded in Suzhou in 2016, is a biopharmaceutical technology company dedicated to developing gene and cell therapy drugs using advanced technologies such as gene editing, viral delivery, and macromolecule engineering. Leveraging its innovative capacity through the integration of multiple advanced technologies, Kerui Gene develops gene and cell therapies for genetic disorders, cancers, and other diseases, providing medical solutions for patients with unmet therapeutic needs. While advancing innovative R&D, Kerui Gene actively promotes the internationalization of science and technology. It has currently entered into a collaboration with Boehringer Ingelheim (BI) to develop delivery vectors for the treatment of liver diseases.

Shangcheng Investment was established in January 2016 as a private equity investment fund focused on the Chinese market. It concentrates on innovation-driven growth opportunities, primarily investing in the sectors of technology and innovation, as well as healthcare, pharmaceuticals, and medical services. In the pharmaceutical and healthcare sector, Shangcheng Investment has consistently upheld its mission to advance pharmaceutical innovation with the goal of benefiting patients. By integrating industry resources, it provides comprehensive support to its portfolio companies, enabling them to focus on addressing unmet clinical needs. To date, Shangcheng Investment’s pharmaceutical portfolio includes multiple innovative enterprises such as Zai Lab (ZLAB.O, 9688.HK), Alphamab Oncology (9966.HK), Conatus Pharmaceuticals (CNTB.O), MicroPort Scientific Corporation (688029.SH), Sinovac Biotech (SVA.O), Harbour BioMed (2142.HK), TopAlliance Biosciences (1875.HK), Shandong Hengli Pharmaceutical, Yifang Biopharma, StemiRNA, Boan Biotech, and 3D Medicines.