Market Overview

Gastrointestinal Gene Therapy Biotech DNAlite Therapeutics Raises $1.5M in Seed Funding

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DNAlite Therapeutics, Inc., an early stage preclinical therapeutic
company has raised $1.5 million in a seed-stage financing. DNAlite was
founded by UC Berkeley graduates Mubhij Ahmad and Timothy Day in 2016.
The proceeds of the round will be used to continue development of
gastrointestinal tract gene therapy treatments for patients who suffer
from genetic intestinal diseases, utilizing DNAlite's proprietary
delivery platform technology.

Berkeley-based Berkeley Catalyst Fund led the Seed round. University of
California Berkeley, Blue Bear Ventures, SOSV, and the Baldota family
also participated, alongside Chinese biopharma BrightGene and Silicon
Valley-based SVE Capital.

Co-founder Mubhij Ahmad remarked, "We are very excited to receive this
investment to help DNAlite push forward its technology. We look forward
to continuing to work closely with our investors and partners to move
new treatments further through our pipeline. We are pleased to bring on
board Xixi Zhu with her scientific background and experience in
operations, cross border fundraising and business development and Dr.
Cassandra Callmann with her expertise in nanoparticle drug delivery."

Co-founder Dr. Timothy Day remarked, "DNAlite is focused on treating the
underlying cause of specific diseases in the gastrointestinal tract.
With this investment, we will be able to advance our treatment strategy
that helps to address the need of patient populations with limited
therapeutic options."

About DNAlite Therapeutics, Inc.

DNAlite Therapeutics, Inc. is an early-stage preclinical biotechnology
company committed to bringing the next-generation of drugs to organs
protected by mucosal barriers. DNAlite is currently developing a gene
therapy strategy to treat monogenetic gastrointestinal diseases by
delivering a functional copy of the gene to patients' gastrointestinal
epithelium.

About Berkeley Catalyst Fund

The Berkeley Catalyst Fund (BCF) provides benefits to entrepreneurial
startups and helps foster the vibrant startup ecosystem around the UC
systems located in the San Francisco Bay Area. BCF invests primarily in
Seed and Series A stage private companies.

About BrightGene Bio-medical technology Co.,Ltd

BrightGene Bio-medical technology Co.,Ltd., is a leading Chinese
biopharmaceutical company in small molecules and nucleotide drugs areas.
Advised by China-based venture capital fund Laurel Venture Capital,
BrightGene invests in all stage therapeutics and innovations.

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