Exegenesis Bio Secures Over $10 Million in Series A Financing Led by Matrix Partners China to Advance Gene Therapy Pipeline
Recently, VCBeat learned thatExegenesis Bio Inc. (hereinafter referred to as “Exegenesis”) has completed a financing round exceeding USD 10 million. The round was led by Xianfeng Qiyun, with participation from Kaitai Capital and Legend Star. The proceeds will primarily be used to support the advancement of the company’s gene therapy R&D pipeline.。
Exegenesis will develop and manufacture innovative gene therapy drugs for the Chinese and global markets. The company currently has a complete core team with complementary expertise,Boasts years of extensive, successful industry experience in gene therapy drug design, preclinical research, and clinical development, coupled with top-tier capabilities in gene therapy process development and GMP manufacturing.。
Among them,Dr. Wu Zhenhua, Founder and CEOWith nearly 20 years of R&D and management experience in both large international pharmaceutical companies and startups. After earning his Ph.D. from the University of Rochester in the United States, Dr. Wu engaged in drug research and development in the U.S. for many years. He has successively served as Senior Scientist and Principal Scientist at Merck & Co., Associate Director and Director at GlaxoSmithKline, Vice President at United Neuroscience, and CEO of NeuExcell.
Dr. Wu has long been engaged in the development of gene therapies, leading multiple gene and cell therapy initiatives in the field of neurology at GlaxoSmithKline and NeuExcell. He served for many years as President of the Sino-American Pharmaceutical Professionals Association – Greater Philadelphia Chapter (SAPA-GP), accumulating extensive experience in team recruitment, management, and operations.
Co-founder Dr. Ye Guojie(Current CSO of Exegenesis), with over 20 years of experience in drug R&D and management in the United States, has long been engaged in preclinical R&D of gene therapy vectors. He previously established and managed the R&D department at Applied Genetic Technologies Corporation (AGTC), a U.S.-based gene therapy company, overseeing target discovery, vector design, construction, production, functional assays, as well as GLP toxicology and pharmacology studies (IND-enabling studies).
After earning his Ph.D. from the Shanghai Institute of Organic Chemistry, Chinese Academy of Sciences (under the supervision of Academician Wang You), Dr. Ye conducted research in molecular biology and the molecular genetics of HSV (oncolytic virus) at Cornell University (in the laboratory of Academician Meister) and the University of Chicago (in the laboratory of Academician Roizman). Dr. Ye previously served as a Scientist and Senior Scientist at MediGene, an HSV-focused R&D company, and later as Director, Senior Director, and Executive Director of R&D at AGTC. During his tenure at AGTC, the company successfully submitted four Investigational New Drug (IND) applications to the FDA within four years, all of which were approved to enter clinical trials.
Co-founder Wang Lijun(Current CTO of Exegenesis), with over 13 years of experience in the United States working for two gene therapy R&D companies and a CDMO, possesses extensive expertise in the R&D, cGMP manufacturing, and team management of biologics including clinical-grade adeno-associated virus (AAV), lentivirus (LV), recombinant proteins, and antibodies. Has in-depth understanding of viral production platforms and technical bottlenecks, and has been responsible for leading the process development from upstream and downstream processing to GMP manufacturing for multiple AAV serotypes. Proficient in analytical methods, drug product (DP) formulation, and Chemistry, Manufacturing, and Controls (CMC) regulations.
She participated in the design of two cGMP facilities for viral vector production; she led and successfully delivered more than ten AAV production batches used in Phase I, II, and III clinical trials, with most supporting first-in-human studies worldwide. Wang Lijun has successively served as R&D Scientist at AGTC; Downstream R&D Manager, Director of Downstream R&D and cGMP Manufacturing, and Director of Upstream and Downstream Drug Substance (DS) cGMP Manufacturing at Brammer Bio (acquired by Thermo Fisher Scientific for $1.7 billion in May 2019); and Head of Process Development and Manufacturing at Encoded Therapeutics (founded with investment from Venrock, Arch Venture Partners, Illumina, and others, and having raised over $100 million in financing).
As early as 1972, Theodore Friedmann and Richard Roblin highlighted the potential of gene therapy for treating numerous genetic disorders. After decades of a long and tortuous development path, gene therapy has finally achieved breakthrough progress, emerging as a new highlight in the pharmaceutical industry’s development (see Figure 1).
In 2012, the European Union approved the market launch of Glybera, a gene therapy developed by UniQure for the treatment of lipoprotein lipase deficiency. In 2016, Strimvelis, a gene therapy jointly developed by GSK and its Italian partners Telethon and OSR for severe combined immunodeficiency caused by adenosine deaminase deficiency, received approval from the European Union. In 2017, Spark Therapeutics’ ophthalmic gene therapy Luxturna was approved by the U.S. Food and Drug Administration (FDA).
In 2019, the FDA approved AveXis’s gene therapy Zolgensma for the treatment of spinal muscular atrophy. These novel therapies address significant unmet clinical needs, with numerous gene therapy agents currently undergoing clinical trials and demonstrating substantial efficacy in fields such as ophthalmology, neurological disorders, musculoskeletal diseases, hematologic conditions, metabolic disorders, and oncology.
As of January 2019, the U.S. FDA had received more than 800 clinical trial applications for gene and cell therapies, and projected that annual new submissions would exceed 200 by 2020, with an estimated 10–20 such drugs approved annually by 2025 (compared to an average of 43 new drug approvals per year over the past five years) (https://www.fdanews.com/blasubmissions). The market for gene and cell therapy products is poised to become a new growth driver for innovative pharmaceuticals.。
Figure 1: Timeline of Gene Therapy Development
Exegenesis is developing best-in-class and first-in-class gene therapy drugs for diverse markets. It holds differentiated competitive advantages in pipeline selection and technology platforms, while its manufacturing processes and commercial-scale production capabilities effectively accelerate the clinical advancement of its product portfolio.
Dr. Wu Zhenhua, CEO of Exegenesis, stated, “Gene therapy represents one of the most significant breakthroughs in the pharmaceutical field over the next decade, offering transformative, one-time curative treatments for many diseases previously considered difficult or even impossible to treat. Leveraging our founding team’s extensive industry experience in this field, our comprehensive industrial infrastructure spanning from early-stage R&D to large-scale GMP manufacturing, and our forward-looking strategy, we aim to deliver hope as soon as possible to patients in urgent need of revolutionary gene therapies.”
Dr. Wang Yunhai, Director at Xianfeng Qiyun Investment, stated, “Exegenesis boasts a strong management team in the field of gene therapy, with comprehensive and extensive industry experience spanning gene drug R&D, process development, and commercial manufacturing. The company is primarily focused on developing innovative gene therapy drugs to address the rapidly growing healthcare markets in China and globally, as well as unmet medical needs. We are delighted to collaborate with such a professional team to execute the company’s business strategy in a resource-efficient manner, accelerating the clinical development and commercialization of its gene therapy products.”
About Xianfeng Qiyun：
Xianfeng Qiyun was established in 2016 as an early-stage venture capital fund under Xianfeng (K2VC), focusing on Series A and B rounds. Founded in 2010, Xianfeng (K2VC) specializes in early-stage investments in the new economy, committed to driving technological advancement, business model innovation, and the evolution of lifestyles. Its funds, including Xianfeng Changqing and Xianfeng Qiyun, cover investments in sectors such as internet, consumer goods, and healthcare. To date, it has invested in nearly 500 high-growth startups, spanning stages from angel to Series B, and manages dual-currency funds in both RMB and USD.
About Kaitai Capital：
KaiTai Capital, established in 2009, is a professional venture capital management firm primarily engaged in innovation investment, industrial investment, and wealth management. Its investment sectors encompass life sciences and healthcare, community innovation and consumption upgrading, as well as artificial intelligence and digital technology. The total assets under management by KaiTai Capital have cumulatively exceeded RMB 50 billion, initially achieving a global investment footprint spanning the United States, Europe, and China.
Since its inception, the team has achieved successful investment cases in companies such as Perfect World (002624.SZ), Beijing Culture (000802.SZ), Jinke Culture (300459.SZ), and Sanchuang Yihui (300078.SZ). In the field of life sciences, Kaitai Capital focuses on unmet medical needs and has invested in more than 30 start-ups both domestically and internationally. Its portfolio covers various drug modalities, including small-molecule targeted therapies, biologic macromolecular drugs, gene therapy, and cell therapy, spanning therapeutic areas such as oncology, autoimmune diseases, metabolic disorders, ophthalmology, nephrology, infectious diseases, neurological disorders, and respiratory diseases.
About Legend Star：
Legend Star, established in 2008, currently manages an angel investment fund totaling over RMB 2 billion and has invested in nearly 300 projects. Legend Star provides entrepreneurs with a distinctive service model combining angel investment with in-depth incubation, focusing primarily on three sectors: Artificial Intelligence (AI), TMT (Technology, Media, and Telecom), and Healthcare. Since 2010, Legend Star has designated healthcare as a key strategic investment sector, making it one of the earliest early-stage investment institutions to systematically layout its presence in the healthcare industry. In the healthcare sector, Legend Star has invested in more than 70 projects, including PepGene, Kintor Pharmaceutical, Burning Rock Biotech, Cayody, Keymed Biosciences, and HiFiBiO.