EdiGENE Raises $15 Million in Series B Funding

TOKYO & CAMBRIDGE, Mass.–(BUSINESS WIRE)–EdiGENE, an emerging biotechnology company developing new CRISPR based
therapies for treatment of genetic disorders, announced today that it
has raised 1.6 Billion-yen (approx. $15 Million) as the first tranche of
Series B round.

Participants in the Series B included new investors, UTokyo Innovation
Platform along with continued support of existing investors, including
SBI Investment, Fast Track Initiative, SMBC Venture Capital, Mizuho
Capital, CareNet Group.

A subset of genetic diseases is caused by mutations in the coding region
that result in production of proteins which malfunction or function less
well. Canonical gene editing, removal and replacement of the gene can
correct these. On the other hand, another fraction of genetic disorders
is caused by loss of regulation – resulting in excess or insufficient
protein production – and include more than 660 genes that are currently
estimated to cause human disease due to haploinsufficiency. EdiGENE’s
unique technology platform, CRISPR-GNDM (Guide Nucleotide Directed
Modulation), is capable of normalizing levels of gene expression without
cutting the DNA or RNA. By altering epigenetics to control levels of
gene, and consequently protein expression, EdiGENE’s novel approach to
gene modulation has the potential to prevent, modify and cure a wide
range of genetic diseases to improve patients’ lives.

“Epigenetics acts like a ‘switch’ of gene function and altering gene
expression is a unique way to treat genetic disorders. It has huge
potential to cure patients affected by these genetic disorders,” said
Haru Morita, Chief Executive Officer of EdiGENE. “Since the founding of
EdiGENE in 2016, we have made remarkable progress in developing
CRISPR-GNDM as a new therapeutic modality for precision gene therapy. We
are excited to have the support from this group of investors to help us
achieve our mission.”

EdiGENE plans to use the proceeds of the financing to advance the
groundbreaking science forward, extend its leadership position in gene
modulation technology, and progress pipeline programs towards the clinic
where they will impact patients suffering from serious genetic diseases.

About EdiGENE

EdiGENE is an emerging biotech company that develops therapeutics using
its proprietary technology CRISPR-GNDM. Our people, products, and
partners believe “every life deserves attention” and our mission is to
develop therapeutics primarily for genetic orphan disorders.

Contacts

EdiGENE Corporation
Sawako Nakamura
[email protected]