Inscripta Raises $55.5 Million to Advance Gene-Editing Technology
Published: Feb 28, 2018
BOULDER, Colo., Feb. 28, 2018 /PRNewswire/ -- Inscripta, a leading gene-editing technology company, today announced that it has closed a $55.5 million Series C funding round led by Mérieux Développement and Paladin Capital Group. Additional participants include all existing Inscripta investors: Venrock, Foresite, MLS Capital, and NanoDimension. The new funding comes on the heels of the company's release of its first CRISPR enzyme (MAD7), and will accelerate Inscripta's development and commercialization of gene-editing tools, including instruments, reagents, and software, and grow the company's expert team.
"Gene editing is one of the most exciting scientific advancements of this young century, but to realize its full potential, researchers need to have better, more scalable tools to forward engineer proteins, pathways and genomes," said Kevin Ness, CEO of Inscripta. "The past 20 years of genomic advancements have been in the field of genome reading, but we believe that future advancements in biology will be in the applications of genome writing."
Inscripta will use the funding to expand its research capabilities and strengthen its internal team of high-performing research experts. The company has open positions that offer growth opportunities for scientists and engineers in the fields of microfluidics, genomics, cell biology, synthetic biology, and computational biology at locations in both Boulder, Colo. and the Bay Area. In addition, the company is significantly expanding its commercialization efforts.
"We have experienced firsthand how the capacity and cost of genome sequencing has advanced faster than Moore's Law. With Inscripta we have the opportunity to unlock that potential at an even faster rate for genome writing. Broad dissemination of Inscripta's highly multiplexed, cost efficient, easy-to-use platform will help unleash the next generation of scientific discovery," said Bryan Roberts, partner at Venrock and member of the Inscripta board of directors.
At the close of last year, Inscripta introduced its MAD7 enzyme, which is fully available for commercial and academic researchers with no up-front licensing fees or "reach-through royalties" on products made using the technology. This unique approach was the first step in the company's path to re-shape forward genome engineering and make it more accessible for the research community.
"Inscripta is unique in building the best set of tools that allow researchers and industrial players to engineer strains and enzymes, while owning the fruits of their results outright. As the company prepares for the next set of breakthroughs and first commercial launch, we are excited to work with a very talented team to accelerate what we consider will be a game changer for the industry," said François Valencony, general manager at Merieux Développement.
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SOURCE Inscripta, Inc.