UTokyo's Innovation Platform joined subsidiaries of SBI, Sumitomo Mitsui and Mizuho Bank to help double genetic disorder treatment developer EdiGene's funding.

EdiGene, a Japan-based developer of genetic disorder treatments based on gene editing techniques, raised an initial ¥1.6bn ($15m) in series B funding yesterday from investors including University of Tokyo’s investment company UTokyo Innovation Platform. The round featured SBI Investment, SMBC Capital and Mizuho Capital – respective investment subsidiaries of financial services firms SBI Group, Sumitomo Mitsui Banking Corporation and Mizuho Bank. Business development consultancy Fast Track Initiative and CareNet Group also took part in the transaction, together with a range of unspecified existing investors. Founded in 2016, EdiGene is developing therapeutic candidates for a range of genetic disorders based on its epigenetic editing platform, Crispr-Guide Nucleotide Directed Modulation (GNDM). EdiGene claims Crispr-GNDM can normalise the output of proteins created through gene expression without affecting the underlying DNA or RNA molecules. The approach could potentially prevent, modify and cure a wide array of genetic diseases. EdiGene raised $15m in series A funding in 2017 that featured a $4m commitment from imaging company Fujifilm. Other investors were not named, though SBI, Fast Track, SMBC, Mizuho and CareNet were listed as returning backers for the series B. The company is unrelated to China-based genomic medicine developer EdiGene, whose shareholders include Lilly Asia Ventures, a regional corporate venturing unit of pharmaceutical firm Eli Lilly.

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