Recently, GeneCradle completed a Pre-B round of financing of 100 million yuan, and a strategic reorganization and merger with Beijing Wujiahe Gene Technology Co., Ltd., aiming to accelerate the production scale and commercialization capabilities of AAV products and support the registration and listing of GeneCradle's new drug products.

This round of financing was led by Qiandao Fund, and old shareholder Dongfang Fuhai continued to support it.

GeneCradle takes "originating from demand, courageous in innovation, dedicated in design, strict in verification, sophisticated in manufacturing, and beneficial to patients" as its quality policy, and has developed a number of domestic and foreign independent intellectual property clinical stage pipelines, including gene therapy drugs for indications such as spinal muscular atrophy, Pompe disease, and hypertriglyceridemia with acute pancreatitis, and has conducted clinical trials in multiple clinical research centers, including the Seventh Medical Center of the General Hospital of the Chinese People's Liberation Army, Peking Union Medical College Hospital of the Chinese Academy of Medical Sciences, Peking University First Hospital, the First Medical Center of the General Hospital of the Chinese People's Liberation Army, and Beijing Tiantan Hospital Affiliated to Capital Medical University. The following figure lists the six clinical trial implied licenses obtained by the company.

In addition to the above-mentioned clinical-stage new drug projects, the company's strategic plan to transition to chronic diseases and degenerative diseases has also completed the early research and development layout, and continues to work hard on the upgrade and iteration of next-generation gene therapy products and pharmaceutical technology research. After completing the strategic merger of Wujia and Gene, the company has become a gene therapy new drug company with R&D, clinical and production capabilities. It will further focus on the innovative R&D and production of domestic gene therapy drugs, starting from clinical needs, to improve the lives and future of domestic patient groups.

About the investors in this round

Mr. Jiang Yu, Senior Investment Director of Qiandao Fund, said: The field of cell gene therapy is developing rapidly and is the future focus of international scientific and technological competition. AAV gene therapy is in a high growth state in China and has unmet clinical needs. GeneCradle focuses on the field of AAV gene therapy. The founders, Mr. Wu Xiaobing and Mr. Dong Xiaoyan, have been engaged in viral vector and gene therapy research for more than 20 years. They have a deep understanding of the industry and independently develop and control the core technology. The company has a rich product pipeline layout and differentiated competitiveness. It is currently the company with the largest number of clinically approved AAV gene therapy products in China. We are very optimistic about the development prospects of GeneCradle, seize the opportunities of industry development, and continue to lead.

Founded in 2011, Qiandao Group adheres to the concept of "technology empowering finance, financial services industry, and industry serving the motherland", deeply participates in China's economic development and industrial upgrading, and is committed to becoming a comprehensive holding group that leads innovation with technology and serves the real economy. The group has several member companies, including Qiandao Investment Fund Management Co., Ltd., which focuses on medicine and medical technology, advanced manufacturing, and new energy, and China Emerging Asset Management Co., Ltd., a subsidiary of a central enterprise that has undergone mixed ownership reform. It focuses on multiple asset management and investment businesses, including equity investment, industrial investment, and special opportunity investment.

Mr. Wang Peijun, partner of Oriental Fortune Capital, said: In the past three years, GeneCradle has been deeply engaged in gene therapy and has made great progress, industrializing the technology accumulated by Professor Wu and Professor Dong for more than 20 years. The company has successfully carried out clinical studies initiated by researchers in multiple projects, accumulated a large amount of first-hand biological evidence, continuously improved the design of gene drugs, achieved in-depth research on dozens of target genes, and established a series of gene tool libraries. At the same time, relying on more than ten years of experience in the field of AAV production technology, the company has greatly reduced the preparation cost of gene drugs and greatly improved the accessibility of gene therapy. At present, GeneCradle has obtained 6 INDs, among which the gene therapy drugs for SMA are expected to cover patients with severe, moderate and multiple subtypes, and are expected to become the world's best in class treatment plan; recently, the company launched the world's first registered clinical trial for gene therapy of infantile Pompe disease, which is expected to become the first in class treatment plan. Since GeneCradle's angel round, Oriental Fortune has accompanied the company's growth. We wish GeneCradle to grow into a world-class gene therapy pharmaceutical company as soon as possible, benefit more patients and create greater social value.

Founded in 2006, Oriental Fortune is a well-known domestic private venture capital institution with a fund management scale of more than 35 billion yuan. It is committed to investing in target companies with growth and listing potential. It has invested in more than 550 projects, with more than 140 exits and 70 listings. Oriental Fortune took the lead in implementing the investment specialization and service platform strategy. It focuses on the layout of information technology, new energy and new materials, health care, semiconductor advanced manufacturing and other fields, actively provides value-added services to invested companies, improves corporate profitability, and brings satisfactory capital appreciation returns to investors. Relying on a professional investment management team and excellent investment performance, it successfully manages four national funds. At the same time, it has been awarded the honors of Top 20 Best Venture Capital Institutions in China and Top 10 Venture Capital Institutions in China for many consecutive years.

About Wujiahe Gene

Beijing Wujiahe Gene Technology Co., Ltd. is headquartered in the Biomedicine Base of Daxing District, Beijing. It is a CDMO platform enterprise with viral vector scale production services as its core business, and is committed to providing customers with viral vector products that meet GMP standards. The company continues to improve product technology and improve the production quality standards of gene therapy drug products. In the future, Wujiahe Gene will operate independently as the gene drug production center of GeneCradle, practicing the concept of "making good drugs and making gene drugs affordable for Chinese people."

About GeneCradle

Beijing GeneCradle Technology Co., Ltd. is a national high-tech enterprise with the development of gene therapy drugs mediated by AAV vector delivery technology as its core business. The company's mission is to promote China's rare disease gene drugs from basic to clinical and market, focusing on the development of gene therapy drugs in the fields of hereditary neuromuscular diseases, genetic metabolic diseases, lysosomal diseases and ophthalmic diseases. By promoting the research and development, production and clinical application of rare disease gene drugs, we will have a deeper understanding of life and health, and transition gene therapy technology and products from rare diseases to the treatment and rehabilitation of chronic diseases and other major diseases, so that gene drugs can benefit more patients and families.