eGenesis Secures $100M Series B Funding Led by Fresenius Medical Care Ventures and Leaps by Bayer to Advance Xenotransplantation Programs

VCBeat (WeChat ID: vcbeat) learned from foreign media that on November 7, 2019, local time, eGenesis, a life sciences company headquartered in Massachusetts, USA, announced it had secured $100 million in Series B financing. The round was led by Fresenius Medical Care Ventures (FMCV), with participation from Leaps by Bayer, Wellington Partners, and existing investors Arch Venture Partners, Biomatics Capital, Alta Partners, and Khosla Ventures.

Following the completion of this financing round, FMCV’s Chief Risk Officer Al Wiegman, along with Jürgen Eckhardt and Dr. Lucio Iannone, Investment Directors at Bayer Leaps, will join the eGenesis board of directors. Previously, eGenesis completed a $38 million Series A financing round in March 2017.

eGenesis, founded in 2014, is a gene editing and genome engineering company dedicated to addressing the global organ shortage by developing alternative sources of human-compatible organs. In the United States alone, more than 110,000 patients are on the organ transplant waiting list, and approximately 20 patients die each day due to the lack of suitable organ donors. This financing will accelerate the advancement of eGenesis’s kidney transplantation program into clinical trials and support the progress of its broader portfolio of xenotransplantation programs spanning islet cells, liver, heart, and lungs. eGenesis’s development strategy is to introduce a comprehensive suite of novel candidates across the entire transplant landscape.

Xenotransplantation refers to the transplantation of organs, tissues, cells, and other biological materials from one species to another. This concept has been proposed for decades, with pigs considered the most suitable donors for humans. However, retroviruses can cause incompatibility, which remains the primary obstacle to translating xenotransplantation into clinical practice.

One of the co-founders of eGenesis is the renowned Harvard geneticist George Church. eGenesis was initially incubated at Harvard University and spun off from the institution in 2014. In November 2015, eGenesis published a groundbreaking paper in Science, demonstrating the genome-wide inactivation of porcine endogenous retroviruses (PERVs), thereby laying the foundation for bringing xenotransplantation into clinical practice. The company also employs CRISPR gene-editing technology to reduce the risk of host rejection of transplanted organs in humans.

eGenesis is not the only company engaged in xenotransplantation. Another biotechnology firm, Lung Biotechnology, focuses on lung xenotransplantation and is a subsidiary of United Therapeutics (NASDAQ: UTHR), based in Maryland. According to the company’s 2018 annual report, its gene-edited pigs for lung transplantation survived for 30 days in animal studies.

Paul Sekhri, President and Chief Executive Officer of eGenesis, stated, “With this new round of financing from industry leaders, eGenesis is well-positioned in the field of developing human-compatible organs, contributing to addressing the organ shortage crisis in the United States and worldwide.”

Dr. Olaf Schermeier, Chief Executive Officer of Global Research and Development at Fresenius Medical Care, stated, “eGenesis’s approach offers a new option for patients with kidney disease. We look forward to delivering industry-leading expertise in the treatment of kidney disease to support the company in bringing its solutions to the clinic.”

Jürgen Eckhardt, Head of Bayer Leaps, stated: “Bayer Leaps is committed to leading a paradigm shift in the life sciences and fundamentally changing the world. We believe that eGenesis holds the promise to revolutionize the entire organ transplantation market and save lives in an entirely new way.”

Fresenius Medical Care (NYSE: FMS), founded in 1996 and headquartered in Hesse, Germany, is the world’s largest provider of products and services for patients with kidney disease. The company currently serves 342,488 patients globally through its network of 4,003 dialysis clinics. Fresenius Medical Care Ventures, a subsidiary of Fresenius Medical Care, primarily invests in start-ups within the healthcare industry.

Bayer Leaps, established in 2015 and headquartered in North Rhine-Westphalia, Germany, is a subsidiary of Bayer, the global giant in healthcare and nutrition life sciences. Bayer Leaps primarily invests in innovative companies developing potentially breakthrough technologies.

Wellington Partners, founded in 1998 and headquartered in Bavaria, Germany, is a venture capital firm investing in seed, early, and growth-stage companies. It primarily focuses on digital media, electronics, and life sciences companies.

Arch Venture Partners, founded in 1986 and headquartered in Illinois, USA, is an early-stage venture capital firm. The company has raised over $3 billion in venture funds and invested in more than 150 startups.

Biomatics Capital, founded in 2016 and headquartered in Washington, D.C., is a venture capital firm investing in the healthcare and life sciences sectors.

Alta Partners, founded in 1996 and headquartered in California, USA, is a venture capital firm focused on the life sciences sector. Since 1996, it has provided funding to more than 130 companies in the industry.

Khosla Ventures, founded in 2004 and headquartered in California, United States, is a venture capital firm primarily investing in sectors such as the internet, mobile technologies, and clean technology.

(Compiled by: He Li)