Exegenesis Bio Raises $10M in Series B Financing

(VCBeat) Feb. 2, 2021 -- Exegenesis Bio Inc. ("Exegenesis Bio"), a leading gene therapy company in China, has successfully closed on a Series B financing worth tens of millions of dollars, just five months after its last round. The investment was led by LYFE Capital with participation from Hillhouse Capital Group and existing investors including Legend Capital, Xianfeng Qiyun, BioTrack Capital, and Kaitai Capital. HaoYue Capital continued to serve as the exclusive financial advisor. 

Proceeds from the transaction will be used to advance the clinical development of Exegenesis Bio's gene therapy pipeline and build a large-scale cGMP compliant manufacturing facility.

Founded in July 2019 in Hangzhou, Exegenesis Bio is an innovative pharmaceutical company committed to providing the most feasible gene therapy for the global market. In terms of virus production technology and mass production, the company is an international leader. It only took 4 months to build the gene therapy manufacturing workshop in line with the cGMP standards in China, America, and Europe.

Exegenesis Bio has great advantages in the design and screening of viral vectors with high tissue specificity, low immunogenicity, high efficiency of infection and action for a long time, and the large-scale and low-cost production of high purified viral vectors with stability. There’s no doubt that Exegenesis Bio will stand out from a number of domestic gene therapy companies.

Founded in 2015, LYFE Capital is a dedicated healthcare fund with $1.27 billion in assets under management. Their investment focus spans biopharmaceuticals, medical devices, and diagnostics. LYFE Capital works closely with its portfolio companies to support their needs by providing capital and active support in global partnerships, collaborations, regulatory guidance and local market access.

Hillhouse is a Chinese private equity firm with investments focus on Asia, especially East Asia and Southeast Asia. It was founded by Lei Zhang in Beijing in 2005 with US$20 million in seed capital from the Yale Endowment. Hillhouse has offices in Beijing, Hong Kong and Singapore.

Hillhouse is a long-term fundamental research-driven equity investor, investing in all equity stages in sectors including consumer, healthcare, financials and services.