Reforgene Completes Pre-B Round Financing of CNY Hundreds of Millions

Established in 2019, Reforgene is a leading gene-editing drug innovation company in China, with gene-editing technology as its core driver and a focus on the birth of revolutionary drugs. Reforgene is a high-level team internationally exploring genetic disease treatment with gene editing technology and has accumulated innovative achievements in disease areas such as hematology and ophthalmology. The company has achieved high-level technological accumulation in areas including gene editing, drug discovery strategy, new animal model construction, and multi-level efficacy and safety evaluation, and has two innovative drug directions, in vivo and in vitro.

According to its official website, Reforgene is an excellent representative enterprise for young entrepreneurs from Guangdong, Hong Kong, and Macao. With its continuous deepening of bottom-up technological innovation capabilities and an excellent talent team, the company currently has pipeline layouts in areas such as genetic diseases, complex diseases, and tumors. Its first-in-class β-thalassemia gene editing drug RM-001 was granted implied approval by the National Medical Products Administration in November 2022 and is currently undergoing Phase I clinical trials.

According to Frost Sullivan's report, the global gene therapy market was worth USD 2.08 billion in 2020, with a CAGR of 153.3% from 2016 to 2020. It is expected to reach USD 30.54 billion by 2025, with a CAGR of 71.2% from 2020 to 2025. The development of medical technology and the increasing awareness of human health are the two driving forces behind the gene therapy market.

Reforgene is committed to conducting the world's first clinical study of a new target point β-thalassemia gene drug on a global scale, with data at a leading level globally. It has been presented at the 27th European Hematology Association (EHA) Congress and the 64th American Society of Hematology (ASH) Annual Meeting in 2022. This is the first Chinese enterprise to announce clinical research results for β-thalassemia at both major international hematology congresses (in Europe and the United States), and it has also achieved successful treatment of adult β-thalassemia patients in China for the first time.

In China, companies such as WuXi AppTec (药明康德), GenScript Biotech (金斯瑞生物科技), Obio Technology (和元生物), and Porton (博腾股份) are currently the key players in the gene and cell therapy field. Overseas, Lonza in Switzerland, Catalent in the United States, and Oxford BioMedicain the United Kingdom have achieved remarkable results.

This funding round was led by Yuexiu Fund (越秀产业基金), with participation from Yuanbio Venture Capital (元生创投), Shanpei Venture Capital (善沣创投) , SFUND (新兴基金), IFSC (港粤资本), and Guoju Venture Capital (国聚创投). Existing shareholders  China Everbright Group (光大控股), Alwin Capital (雅惠投资), and BioTracking Capital (博远资本) also participated in the funding round. Innovation Works was an early investor.

At this critical stage, the ESG2023 "the US Sub-Forum" will be held in Shenzhen on June 2, 2023. EqualOcean will invite the representatives of academic institutions and investment institutions, as well as company leaders, from the International Studies Institute of Fudan University, Sun Yat-sen University, Jinan University School of International Relations, Gaorong Capital, Vision Plus Capital, FreeS Fund, ZWC Partners, Source Code Capital, Niu Technologies, TikTok, SHEIN, NEIWAI, miHoYo, Tuya, MINISO, Dreame, Ecovacs, WYBOTICS, Lifen, and UniUni.EqualOcean analysts will also release the US Report 2023 at the US Sub-Forum, summarizing business opportunities and best practices for expanding into the US market in the new stage. 

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