Metagenomi Closes Oversubscribed $175M Series B Financing to Advance Therapeutic Pipeline and Expand Novel Gene Editing Platform
Proceeds to be used to further develop Metagenomi’s set of next-generation gene editing tools, including CRISPR systems, ultra-small base editors, and CAST systems
Company to advance multiple in vivo and ex vivo therapeutic programs towards the clinic
EMERYVILLE, Calif.--(BUSINESS WIRE)-- Metagenomi, a genetic medicines company with a versatile portfolio of next-generation gene editing tools, today announced the completion of an up-sized and oversubscribed $175 million Series B financing. This brings the total amount of funding for the company to $300 million. Proceeds from the financing will be used to advance Metagenomi’s lead in vivo and ex vivo gene editing therapeutic programs through preclinical development and into the clinic. This will include expansion of its manufacturing, automation and AI infrastructure, and further development of the Company’s differentiated toolbox of next-generation gene editing systems.
“Our expertise in mining the world’s natural environments for novel gene editing systems has resulted in the discovery of a powerful suite of gene editing tools,” said Brian C. Thomas, PhD, Co-founder and CEO of Metagenomi. “We are honored to be supported by an impressive group of investors who understand the enormous potential of our gene editing capabilities. We look forward to the next phase of the Company's development as we accelerate our lead gene editing programs, and open new treatment options in metabolic, cardiovascular, and CNS diseases, as well as in immuno-oncology."
“Metagenomi's method of discovering novel and versatile gene editing systems from nature is scientifically compelling and differentiated,” said Santhosh Palani, PhD, Partner at PFM Health Sciences. “We are thrilled to be able to support Metagenomi as they advance their gene editing programs towards the clinic. Their gene editing systems hold the potential to have major benefits for patients.”
“From the very beginning, we knew the Metagenomi Discovery Platform was going to be a unique and revolutionary technology development platform. We are proud to support the Company’s growth to further the development of new and transformative treatment options,” said Sebastian Bernales, PhD, Co-founder and General Partner of Humboldt Fund.
The Series B financing was led by PFM Health Sciences, Farallon Capital Management, and a leading global investment firm. Additional new investors include Eventide Asset Management, Deep Track Capital, Frazier Life Sciences, Pura Vida Investments, Irving Investors, Millennium Management, Surveyor Capital (a Citadel company), Marshall Wace, Novo Holdings A/S, and Bristol Myers Squibb. This financing round also included investment from strategic partner Moderna, as well as existing investors RA Capital Management, Leaps by Bayer, and Humboldt Fund, amongst others.
With this Series B round, Metagenomi is welcoming Santhosh Palani, Partner at PFM Health Sciences to its Board of Directors.
Metagenomi is a gene editing company committed to developing potentially curative therapeutics by leveraging a proprietary toolbox of next-generation gene editing systems to accurately edit DNA where current technologies cannot. Our metagenomics-powered discovery platform and analytical expertise reveal novel cellular machinery sourced from otherwise unknown organisms. We adapt and forge these naturally evolved systems into powerful gene editing systems that are ultra-small, extremely efficient, highly specific and have a decreased risk of immune response. These systems fuel our pipeline of novel medicines and can be leveraged by partners. Our goal is to revolutionize gene editing for the benefit of patients around the world. For more information, please visit https://metagenomi.co/.