Shanghai Healthcare Capital has led the Series B round for NGGT while Huajin Capital has co-led OptoMedic’s pre-IPO round
Gene therapy firm NGGT bags $40m in Series B round
Gene therapy firm Next Generation Gene Therapeutics (NGGT) has secured $40 million in a Series B financing round led by Shanghai Healthcare Capital, an investment fund set up by state-owned conglomerate Shanghai Industrial Investment Holdings.
The round, participated by local investors including DT Capital Partners and ZX Capital, will help to finance the pre-clinical and stage development of NGGT’s products, the firm said in a release on Tuesday. Previous backers including Beijing Wedo Capital Management and Northern Light Venture Capital have also re-upped in the round.
Founded in 2020, the Suzhou-based firm saw NGGT001, one of its gene therapy drugs under its pipeline that targets inherited retinal dystrophies (IRD), genetic eye conditions that could lead to vision loss or legal blindness, received an Investigational New Drug (IND) Application approval by the U.S. Food and Drug Administration (FDA) in April this year.
OptoMedic seals its pre-IPO round at $27.8m
Medical equipment maker Guangdong OptoMedic Technologies has secured 200 million yuan ($27.8 million) in a pre-IPO round co-led by CCB Private Equity Investment Management, the private equity investment arm of China Construction Bank, and Shenzhen-listed investment management firm Zhuhai Huajin Capital.
The round, which saw the participation of local investors including Guosen Capital and Befor Capital, will help the firm in expanding its global sales network, among others.
Founded in 2013, the Foshan-headquartered firm specialises in the R&D of high-end medical devices.
Previously, the firm bagged “several hundreds of millions” in a Series D round led by Primavera Capital, and CMG-SDIC Capital in July 2021.