Editact Therapeutics, a pioneering start-up in advanced genome editing technology, announces that its project has been selected as one of the first batch of 24 recipients of funding under the Research, Academic and Industry Sectors One-plus Scheme (RAISe+) by the Innovation and Technology Commission (ITC) of the HKSAR Government.

This significant government endorsement will provide crucial support to expedite the commercialization of Editact Therapeutics’ cutting-edge research discoveries and advance its therapeutic drug development pipeline. The RAISe+ Scheme, a flagship initiative of the HKSAR Government with a $10 billion allocation, is designed to foster collaboration across government, industry, academic, and research sectors to transform and commercialize Research and Development (R&D) outcomes in Hong Kong. The funding awarded to Editact Therapeutics underscores the high potential and transformative nature of its work in the field of genome editing.

Editact Therapeutics is focused on developing first-in-class therapeutics using CRISPR gene editing technology to address unmet medical needs, such as inherited diseases like familial Alzheimer’s disease (FAD). The company’s innovative “one-for-many” approach targets common genetic features, offering a potential path for treating conditions that traditional one-drug-for-one-mutation therapies cannot effectively address.

The funding will specifically be utilized to advance into preclinical and clinical trials, thereby solidifying Hong Kong’s position as a hub for world-class biomedical innovation. The RAISe+ Scheme provides funding on a matching basis, typically up to HK$100 million per project, supporting the transformation and commercialization stages of R&D outcomes over approximately five years.