NEW YORK – Epigenic Therapeutics on Tuesday said it has raised $32 million in Series A funding, which it will use to develop preclinical- and clinical-stage gene therapy assets.
The financing was co-led by Qiming Venture Partners and OrbiMed and included existing investor Morningside Venture Capital.
Shanghai-based Epigenic is developing next-generation therapies that modulate gene expression at the epigenetic level. The firm is using its EPIREG platform, which combines CRISPR-Cas-derived technologies with a lipid nanoparticle medicine delivery system, to modulate the expression of target genes without altering the DNA sequence and deliver medicines to target cells and tissues ex vivo and in vivo. Compared to other gene editing platforms, Epigenic claims that EPIREG can "overcome the potential risk rising from DNA cleavage," such as off-target effects, short half-life, and difficulties with patient compliance.
"In two years since the inception, Epigenic has made significant progress towards transforming cutting-edge science into life-saving epigenome medicines. Now, we have developed targeted therapeutic strategies," Epigenic CEO and Cofounder Bob Zhang said in a statement. "We are honored and grateful to have the support from top-tier global investors as we continue our mission to pioneer innovations in epigenome medicines to be ultimately implemented in patient care."
Epigenic is developing treatments for viral hepatitis as well as metabolic, cardiovascular, ocular, and rare diseases. According to the firm, the Series A funds will support preclinical development of its pipeline assets and allow it to move two lead candidates into the clinic. The company, which a year ago secured $20 million in Series Angel and Pre-A funding, didn't provide further details on its pipeline.