Base Therapeutics announces the completion of its A2 round of financing
- Written by: Daily Bulletin
- Published in News from Asia
Base Therapeutics' AccuBase® Base Editor Receives Overseas Patent Authorization
HONG KONG SAR - Media Outreach Newswire - 12 September 2024 - Base Therapeutics recently announced the completion of its A2 round financing, raising tens of millions of RMB.This round of financing was led by AEF Greater Bay Area Fund, managed by Gobi Partners GBA and will be used to strengthen Base Therapeutics' R&D team, optimize its product pipeline, accelerate clinical trials, and pave the way for future commercialization. Additionally, the company plans to establish a presence in the Greater Bay Area, with Hong Kong as its core, to support internationalization efforts, continuous R&D, innovation, and international cooperation and exchange activities.
Base Therapeutics was founded in 2021 and is a technology-driven innovative enterprise focusing on foundational innovations in gene editing. It is a global pioneer in base editing and cell gene therapy research and development. Since its inception, the company has been committed to developing world-first cell therapies and gene editing products, particularly showing great promise in treating cancers and genetic diseases.
Base Therapeutics has developed a series of core technologies in the field of gene editing, including ePE lead editing, the AccuBase® base editing system, CasH gene editing technology, BEAT-CART technology, and in vivo targeted delivery technology. Among these, the AccuBase® base editing system possesses globally free-to-operate (FTO) characteristics, enabling efficient and zero-off-target gene editing both in vitro and in vivo. This is also the world's first Base Editing targeted NK cell therapy product, which uses base editing to confer target specificity to NK cells.
The company has built a nearly 2,500 square meter GMP cell production facility that meets the requirements for clinical-grade cell therapy research and production. Base Therapeutics' pipeline also includes multiple base-edited NK cell products targeting hematological malignancies and autoimmune diseases, as well as universal CAR immunotherapy products and in vivo gene editing.
In terms of external collaborations, Base Therapeutics has licensed its AccuBase® base editing technology non-exclusively to leading CAR-T cell therapy companies internationally. The company also collaborates with agricultural enterprises to develop thornless fish using base editing technology and explores applications in crop improvement and livestock genetic modification.
Base Therapeutics has cumulatively received tens of millions of dollars in seed and Series A investments, backed by top-tier international biopharmaceutical venture capital institutions. The company has won numerous honors, including second place in the national finals of the 12th China Innovation and Entrepreneurship Competition. It also holds 29 intellectual property applications covering software copyrights, utility model patents, national invention patents, PCT, and US patents.
Dr. Tianhong Xu, Founder and CEO of Base Therapeutics, expressed enthusiasm about the strategic partnership with Gobi Partners GBA. "Gobi Partners GBA's investment is a strong endorsement of Base Therapeutics' groundbreaking gene editing technology and our team's vision to revolutionize healthcare. With their deep understanding of the Greater Bay Area market and extensive global network, we are confident in accelerating our expansion into Hong Kong and beyond. This partnership is instrumental in advancing our clinical trials, forging strategic collaborations, and ultimately delivering life-changing therapies to patients worldwide."
As Fred Li, Senior Executive Director of Gobi Partners GBA noted, "Base Therapeutics is a promising investment opportunity in the Greater Bay Area. Their groundbreaking work in gene editing aligns with our focus on supporting cutting-edge healthcare technologies. We are confident that their expansion into Hong Kong will further strengthen their position in the global healthcare technology market and drive innovation."
About Gobi Partners GBA (Gobi GBA)
Gobi Partners GBA (Gobi GBA) was established in 2016 as a part of the leading Pan-Asian venture capital platform Gobi Partners. Gobi GBA is the general partner of the Alibaba Hong Kong Entrepreneurs Fund, L.P.（AEF）as well as the AEF Greater Bay Area Fund LPF, and has formed strategic partnerships with other renowned financial institutions such as HSBC and Hang Seng Bank.
As of 2023, Gobi GBA has invested in over 80 startups across the Greater Bay Area and has fostered the growth of 8 unicorns including Airwallex, Amber, Animoca Brands, GoGoX, Prenetics, and more.
About Base Therapeutics
On August 20, 2024, Base Therapeutics announced that its AccuBase® base editor has officially received authorization for two patents from the United States Patent and Trademark Office (USPTO). This marks that both of Base Therapeutics' AccuBase® technologies have secured patent protection in China and overseas markets. Base Therapeutics' strategic positioning in the gene editing field is at the forefront internationally, making it one of the biopharmaceutical companies with the most authorizations domestically and abroad.
AccuBase® Technology Highlights:
- Extremely low off-target effects.
- Demonstrated highly efficient and stable editing performance in various in vitro and in vivo environments.
- The protein form of AccuBase® is commercialized, being the only available base editing protein worldwide, and comes in both research and GMP grades.
- Has received multiple patent authorizations domestically and internationally.
- Possesses characteristics allowing for freedom to operate (FTO) globally.
- NK510: Editing efficiency up to 95% in primary NK cells; IND application completed in China, expected to file an IND application in the U.S. in September.
- NK510 and NK520: Multiple Investigator Initiated Trials (IITs) conducted, preliminary safety and efficacy for solid tumors have been confirmed.
- In the field of in vivo gene therapy, combined with Base Therapeutics' proprietary delivery system, AccuBase® achieves over 80% editing efficiency in the liver, with multiple in vivo gene therapy products under development.
- AccuBase® has been licensed to a renowned international CAR-T company, achieving multi-million dollar upfront payments and milestone payments.
- Beyond internal R&D, Base Therapeutics collaborates with other biopharmaceutical companies to develop cell products.
Hashtag: #BaseTherapeutics
https://www.basetherapeutics.com
The issuer is solely responsible for the content of this announcement.
Daily Bulletin
