PackGene Biotech Secures Exclusive Series C+ Financing from SDIC Capital and Hosts CGT Industry Salon to Strategize Global Expansion

VCBeat has learned that on December 1, 2023, Guangzhou PackGene Biotech Co., Ltd. (hereinafter referred to as “PackGene”), a leading CTDMO enterprise specializing in gene therapy delivery, completed the signing ceremony for its C+ round of financing, exceeding RMB 100 million. This round of financing was led by SDIC Investment Management Co., Ltd. (hereinafter referred to as “SDIC Investment”)”) Exclusive investment. Notably, amidst the capital winter, this marks PackGene Biotech’s second financing round completed this year, underscoring not only its technological advantages and substantial value in the field of gene therapy delivery but also reflecting the capital market’s recognition of PackGene Biotech’s industry standing and strength.

Leaders from the Huangpu District Administration for Market Regulation, the Huangpu District Science and Technology Bureau, and the Huangpu District Investment Promotion Bureau of Guangzhou, along with representatives from SDIC Investment Promotion, existing shareholders, and distinguished clients and guests, attended the ceremony to jointly witness another significant milestone in PackGene Biotech’s development history.

This Series C+ funding round will be used to advance the company’s global strategy, strengthen innovation in its gene therapy service platform, and comprehensively empower gene therapy pharmaceutical companies to reduce costs and improve efficiency. This will accelerate the industrialization of gene therapy drugs both domestically and internationally, working together to bring safer, more effective, and more affordable gene therapies to patients in China and around the world.

Li Huapeng, Founder & Chairman of PackGene Biotech, stated:We extend our sincere gratitude to SDIC Investment Promotion for its recognition and strong support of PackGene Biotech. Amid the current tight financing environment both domestically and internationally, securing substantial investment from SDIC Investment Promotion serves as a testament to the strength of our team, our technology, and our reputation within the industry. The signing ceremony for PackGene’s Series C+ financing round coincides with the company’s ninth anniversary, marking an occasion of significant importance. We aim to leverage this financing opportunity to further advance innovation in AAV vector technologies and mRNA process development, drive comprehensive upgrades and optimization of our platform while expanding production capacity, and enhance our service capabilities in the gene therapy sector. Furthermore, we will accelerate our global expansion to facilitate the clinical translation of CGT pharmaceuticals, ultimately benefiting patients in China and around the world.

PackGene Biotech CEO Zhang Chao stated: Gene therapy is a sunrise industry with immense potential for the future. As participants striving in this field, we are deeply honored and acutely aware of our significant responsibilities. Looking back, we have achieved substantial success; the relentless day-and-night efforts of the PackGene team have driven the company’s leapfrog development. Looking ahead, we are full of confidence. The PackGene team will remain true to its original mission, continuously advance our technologies, and enhance service quality, thereby rewarding everyone’s trust and choices through the company’s high-quality development!

The SDIC Merchants Life Sciences Team stated:As a critical delivery vehicle in gene therapy, adeno-associated virus (AAV) is a viral vector with significant development potential. PackGene Biotech has dedicated years to advancing AAV vector technology, successfully developing competitive viral vector processes and packaging technologies that have earned high recognition from clients both domestically and internationally. The company remains committed to empowering its clients and driving progress in the field of gene therapy. SDIC Investment Promotion will continue to support PackGene Biotech, aiming to help more gene therapy companies better develop gene therapies that benefit ordinary patients.

On the same day, PackGene Biotech also hosted the “Seminar on the Cell and Gene Therapy Industry from an International Perspective.” The event brought together numerous heavyweight guests from the CGT academic and industrial sectors, who joined patent attorneys, government regulatory officials, and investors from renowned investment institutions to engage in an in-depth discussion on industry development and collaboration from multiple dimensions and perspectives. Topics covered included biomedical policies, financing and investment, R&D innovation, and opportunities and challenges associated with global expansion. This salon provided a vital platform for internal and external exchanges within the CGT industry, promoting its healthy development. We look forward to further communication between investment institutions and partners regarding the six roadshow projects presented, and we hope that Huangpu District will continue to attract an increasing number of outstanding CGT projects. PackGene Biotech will continue to collaborate with all parties to break down information barriers and contribute to accelerating the development and global expansion of China’s CGT industry.

It is time to ride the wind and waves, rowing hard and setting sail for a new journey. This round of financing will inject strong momentum into PackGene Biotech’s technological innovation, global expansion, and talent development. In the future, PackGene Biotech will continue to uphold its mission of “making gene therapy affordable for the general public,” drive continuous innovation, root itself in China while expanding globally, empower gene therapy pharmaceutical companies worldwide, and propel China’s CGT industry to new heights.

SDIC Merchants is a leading private equity investment management firm in China, specializing in investments in the advanced manufacturing sector. It places strong emphasis on technological innovation and the value of outstanding entrepreneurs and their teams, with a focus on intelligent manufacturing, new energy smart vehicles, life sciences, and information and communications technology (ICT). The firm is committed to promoting the green, digital, and service-oriented transformation of the manufacturing industry. The team manages cumulative assets exceeding RMB 100 billion, with investors including financial institutions, the National Social Security Fund, and both state-owned and private capital.

PackGene is a CRO and CTDMO technology company specializing in the packaging of recombinant adeno-associated virus (rAAV) vectors. It provides rapid, cost-effective, high-quality, and scalable one-stop CMC solutions for the early-stage R&D, preclinical development, clinical trials, and regulatory approval of recombinant AAV vector-based therapeutics for cell and gene therapy (CGT) companies. Since its establishment in 2014, as a leader in the field of AAV vector CRO services, PackGene has delivered tens of thousands of batches of customized AAV samples to clients in more than 20 countries, including top global multinational pharmaceutical companies and various research institutions. In the realm of CTDMO services, leveraging five major technology platforms—including the π-Alpha™ 293 cell high-yield AAV platform and the π-Omega™ high-yield plasmid platform—along with a comprehensive quality and analytical system, PackGene provides compliant GMP-scale manufacturing services to meet the production needs of pharmaceutical companies for AAV vectors and plasmids.

PackGene Biotech is committed to the mission of “making gene therapy affordable for the general public” and takes it as its responsibility to accelerate the market launch of innovative gene therapies, striving to become a long-term partner for global gene therapy research, development, and manufacturing. Building on innovative technologies as its foundation, PackGene Biotech employs a dual-drive strategy focused on advanced vector production technologies and breakthrough vector tools, thereby establishing its international brand in the CRO and CTDMO sectors within the field of gene therapy.