Cargene Closes US $ 19.2 Million Pre-A Cycle Led by BioTrack Capital |


Accelerating Nucleic Acid Therapy Using Innovative Chemistry and Biology to Improve Lives Around the World

SINGAPORE and SHANGHAI and BOSTON, December 14, 2021 / PRNewswire / – Cargène Biopharma Inc. (“Cargene”) today announced the closing of an oversubscribed transaction US $ 19.2 million Pre-Series A funding round. Funding was led by BioTrack Capital, with participation from Hyfinity Investments, Legendstar Capital and other investors.

Cargene is a preclinical biopharmaceutical company that develops oligonucleotide therapies for cardiovascular, fibrotic and pulmonary diseases. With operations in Singapore, United States and China, Cargene aims to improve the quality of life of millions of patients around the world through clinically meaningful treatments generated from its proprietary platforms, coupled with in-depth knowledge in biology and chemistry.

Cargene’s OSCAR â„¢ algorithm and SMoP â„¢ pharmacophores design platforms work seamlessly to enable rapid innovation of highly potent, specific and stable siRNAs against any target. The first programs to take advantage of this synergistic combination are cardiovascular disease and non-alcoholic steatohepatitis (NASH). To address the most critical unmet need for NASH, Cargene has an exclusive license of regenerative medicine related technology from that of Singapore Agency for Science, Technology and Research (A * STAR) for reducing liver fibrosis in patients with NASH. By inhibiting targets, the technology has been shown to improve liver regeneration in models of acute and chronic liver disease as well as in tests of human cell lines.

The development of this technology was funded by the EVX-A * STAR PLATINUM grant. This grant supports the co-creation of new biotechnology companies such as Cargene with A * STAR, and facilitates the development of proof of concept R&D in therapeutic platform technologies from A * STAR.

Cargene is also developing technologies for the targeted delivery of oligonucleotides to a variety of organs and tissues, and new nucleosides to enhance the pharmaceutical efficacy of siRNAs. The proceeds of this cycle will be used to advance Cargene’s core asset towards the application of New Investigational Drugs (INDs) and accelerate the technological development of the company.

Cargene was jointly founded by XQ Lin, President and Founder of EVX Ventures, Dr. Yann Chong Tan, a serial biotechnology entrepreneur who co-founded a NASDAQ-listed biotechnology company and Dr.Torsten Wuestefeld, principal investigator at the Genome Institute of A * STAR Singapore. Cargene has a scientific council of world-class scientists including professors Harvey lodish, Roger foo, Kausik ray, and Torsten Wuestefeld.

“Cargene reflects EVX’s philosophy of investing in technologies that redefine the therapies of tomorrow. The cross-border scientific ecosystems that Cargene relies on will help realize the full therapeutic potential of oligonucleotides and create lasting and meaningful impact for patients around the world, ”said XQ Lin, President and Founder of EVX Ventures and President of Cargene.

Qinggang Zhuang, Executive Director of BioTrack Capital, said: “Oligonucleotide therapy is an area of ​​interest for BioTrack Capital. Cargene has a founding team of serial biotechnology entrepreneurs and world-class experts in nucleic acid chemistry. Leverage the capabilities of Boston, Singapore and Shanghai, Cargene has implemented innovative platforms and proprietary siRNA delivery systems with exciting preliminary data.

“We are very excited to have the opportunity to lead this first fundraiser and look forward to working with the team to create a leading innovative pharmaceutical company for oligonucleotides. “

About EVX Ventures

EVX Ventures is a global business creator focused on building and incubating biotech companies. By focusing on disruptive therapeutic platform technologies and new therapeutic modalities, they are investing in global technologies to redefine the therapeutics of tomorrow. Learn more about www.evx.ventures

About BioTrack Capital

Founded in 2017, BioTrack Capital is a dedicated healthcare venture capital firm focused on the creation and incubation of innovative life science companies in China. We are continually seeking to discover innovative biotech companies, innovative medtech companies and innovative healthcare business models that are led by exceptional entrepreneurs. Learn more about www.biotrackcapital.com

About Hyfinity Investments

Hyfinity Investments is led by senior partners from leading investment institutions in China, with years of experience in healthcare investments, local operations and overseas licensing. Hyfinity Investments is dedicated to advancing global innovations in high unmet need diseases, leveraging the rich clinical resources of China. Their mission is to foster industry leaders through the convergence of resources on a global scale. Learn more about www.hyfinityfund.com

About the Agency for Science, Technology and Research (A * STAR)

The Agency for Science, Technology and Research (A * STAR) is that of Singapore main R&D agency in the public sector. Through open innovation, we collaborate with our partners in the public and private sectors for the benefit of the economy and society. As a science and technology organization, A * STAR bridges the gap between academia and industry. Our research creates economic growth and jobs for Singapore, and improves lives by improving societal outcomes in healthcare, urban living and sustainability. A * STAR plays a key role in nurturing scientific talent and leaders for the broader research community and industry. A * STAR’s R&D activities range from biomedical sciences to physical sciences and engineering, with research entities mainly located in Biopolis and Fusionopolis. For current news, visit www.a-star.edu.sg.

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