Shenzhen Direct Genomics Biotechnology and Shenzhen Vienomics Biotech, the genome sequencing firms chaired by scientist He Jiankui, who was behind the controversial birth of gene-edited baby twins in China this month, received a total of $43 million funding from at least seven Chinese and international investors.
He has 33.2 stakes in Shenzhen Direct Genomics Biotechnology which acquired 218 million yuan from its Series A funding round in April this year, the South China Morning Post reported. The startup was established in July 2012 and is currently worth at $1.5 billion yuan.
As previously reported by the Business Times, He claimed to have gene-edited bay twins who were born in China early in November. He has since been subjected to backlash and strong condemnation across the scientific community due to the ethical repercussions of what he achieved. The scientists defended himself, asserting that he conducted the gene editing with the aim of saving the babies from contracting HIV.
On Nov. 29, the Chinese government ordered the suspension of all scientific activities related and similar to the gene-edited babies. The government denounced He's an achievement as "extremely abominable in nature," Xinhua reported. Authorities said the project clearly violated ethical standards.
Xu Nanping, vice minister of China's Ministry of Science and Technology, said He's undertaking was both "shocking and unacceptable." China's National Health Commission and the China Association for Science and Technology also condemned He's undertaking.
According to the report from SCMP, April's funding for Shenzhen Direct Genomics Biotechnology was led by Shenzhen Cosun Venture Capital Investment Management which was owned by Coship Electronics and Chen Libei who is an executive at Fortune Capital which is run by the Chinese government. Beijing Ziyi Asset Management was also among the investors for this round of funding.
The startup received an undisclosed amount of money from Beijing Tengye Venture Capital, Amer International Group which mainly invests in metals and materials, and Sinotech Genomics which offer gene sequencing services in a separate round of funding held in November 2016.
Shenzhen Vienomics Biotech, on the other hand, generated 50 million yuan this month during its Series A funding round. The round was led by Amer International Group and Qianjing Capital.
The startup also received 20 million yuan from ASB Ventures in 2017 and 10 million yuan from unknown investors in January 2016, SCMP has learned.
He also holds stakes in seven other companies that include Shenzhen Hanhai Venture Capital Management Partnership, Shenzhen Nanke Biotechnology, Vienomics Biotech Rudong, Zhuhai Hanhai Chuangmeng Technology Management Partnership, and Zhuhai Nanqijundao Technology Partnership.
