Qi Biodesign Completes $75 Million Funding for Genome Editing Advancements
Deal News | Dec 06, 2024 | PR Newswire Cision Qi-biodesign
Qi Biodesign, a biotechnology firm based in Beijing, has successfully completed its Series A funding round, bringing its total financing to $75 million. The latest round was led by the Beijing Medical and Health Care Industry Investment Fund and supported by various investors. Qi Biodesign is known for its advanced genome editing technologies, including its proprietary SEEDIT™ research platform, which facilitates precision genetic modifications and the development of superior biological traits for agriculture and synthetic biology. The company has made notable advancements, such as obtaining biosafety certificates for gene-edited plants in China and a product exemption in the US. The new funding will aid in enhancing R&D capabilities, advancing product development, and accelerating commercialization efforts.
Sectors
- Biotechnology
- Agriculture
- Investment
Geography
- China – Qi Biodesign is headquartered in Beijing, China, where it has obtained biosafety certificates for its gene-edited plants.
- United States – The company has received exemptions from the US Department of Agriculture for its gene-edited products.
Industry
- Biotechnology – Qi Biodesign operates within the biotechnology sector, focusing on pioneering genome editing technologies.
- Agriculture – The company's innovations aim to improve crop breeding through genome editing, contributing to sustainable agricultural practices.
- Investment – Qi Biodesign's completion of a significant venture funding round involves several investment entities across different funding stages.
Financials
- $75 million – Total amount raised by Qi Biodesign in Seed, Pre-A, and Series A funding rounds.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Qi Biodesign | Target Company | Company | A biotechnology company focusing on genome editing innovations. |
| Beijing Medical and Health Care Industry Investment Fund | Led Series A Round | Company | An investment fund based in Beijing, playing a major role in Qi Biodesign's recent funding. |
| Beijing Changping Technology Innodevelop Group | Investor | Company | Participant in Qi Biodesign's Series A funding. |
| Mingzhe Capital | Investor | Company | Participant in Qi Biodesign's Series A funding. |
| CD Capital | Returning Investor | Company | Previously invested in Qi Biodesign and participated in the Series A round. |
| Apricot Capital, Source Code Capital, Gaorong Ventures, CSSD Capital, Shang Capital, CASSTAR | Previous Investors | Company | Investors who participated in earlier funding rounds for Qi Biodesign. |
| Dr. Caixia Gao | Co-Founder | Person | Leading genome editing scientist at Qi Biodesign. |
| Dr. Kevin Zhao | Co-Founder and Chief Technology Officer | Person | CTO focusing on technological innovations at Qi Biodesign. |
| Dr. Bei Zhang | Chief Executive Officer | Person | CEO overseeing strategic initiatives at Qi Biodesign. |
| Haiquan Yang | Chief Business Officer | Person | CBO handling business operations and development at Qi Biodesign. |
| China Ministry of Agriculture and Rural Affairs | Regulatory Body | Government | Issued biosafety certificates for Qi Biodesign's gene-edited plants. |
| US Department of Agriculture | Regulatory Body | Government | Granted an exemption for Qi Biodesign's gene-edited product. |
| Yihui Jiang | Contact | Person | Contact person for inquiries about Qi Biodesign. |