Chinagene Tech Secures ￥70 million in Series Pre-A Funding Round

(VCBeat) Mar. 23, 2021 -- Beijing Zhongyin Technology Co., Ltd. ("Chinagene Tech") complete 70 million yuan of announced that it has closed a ￥70 million round of Series Pre-A financing, led by Lotus Lake Ventures, with participation from Longmen Capital. Proceeds from the transaction will be used for the GMP compliant production, and pharmacology and toxicology researches and the clinical trials of Chinagene Tech's ZVS101e, and the development of the second-tier product lines, including ZVS203e, ZVS204e, ZVS105e, and ZVS106e.

Previously, Chinagene Tech completed an angel round of financing in 2018, led by Cowin Capital.

Chinagene Tech is a national high-tech enterprise specializing in genetic diagnosis, disease prevention during pregnancy and gene therapy drug R&D of inherited eye diseases. It is also the first company in eye gene therapy drug R&D in China. Chinagene Tech has established the genetic diagnosis platform, docking platform for prevention during pregnancy, and gene therapy drug R&D platform. It is committed to providing patients with "one-stop" services, including accurate genetic testings, disease prevention and gene therapies.

Chinagene Tech has been engaged in gene therapy research for many years, with rich experience in basic research, clinical work, AAV production, and new drug application. In view of the huge differences in the pathogenesis of IRDS, Chinagene Tech respectively designed gene replacement therapies and gene-editing therapies based on the common pathogenic genes in Chinese IRDS patients.

Founded in 2001, Lotus Lake Ventures is an investment firm committed to investing in science and technology innovation enterprises, focusing on high-tech enterprises with core competitiveness in the initial stage and growth stage in the fields of information technology, life science, and clean technology, etc.

Founded in 2017, Longman Capital focuses on investments in companies engaged in innovative medicine and life science technology in early and early-growth stages. The core team has a wealth of operation and investment experience in the pharmaceutical field. At present, it has initiated and established the third-phase fund, with a management scale of 2 billion yuan.