February 28, 2018

Inscripta raises $55.5M to advance gene-editing tools

BOULDER — Inscripta Inc., a gene-editing technology company based in Boulder, said on Wednesday that it has closed a $55.5 million series C funding round led by Mérieux Développement and Paladin Capital Group.

Mérieux Développement is based in France with an office in Boston, and Paladin Capital Group is a venture-capital firm based in Washington, D.C.

Additional participants included all existing Inscripta investors: Venrock, Foresite, MLS Capital and NanoDimension.

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At the close of last year, Inscripta introduced its MAD7 enzyme, which is available for commercial and academic researchers. The enzyme allows researchers to reshape DNA in an effort to attack and prevent diseases.

The company will use the money to accelerate its development and commercialization of gene-editing tools, including instruments, reagents and software, and grow the company’s team. The company has jobs for scientists and engineers in the fields of microfluidics, genomics, cell biology, synthetic biology and computational biology in Boulder and Pleasanton, Calif.

“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,” Kevin Ness, Inscripta’s chief executive, said in a prepared statement. “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.”

MAD7 enzyme is  available for commercial and academic researchers with no upfront 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 reshape forward genome engineering and make it more accessible for the research community.

According to Reuters, Inscripta has raised $84.5 million in total. It had raised $23 million in a series B funding round led by venture capital firm Venrock in February last year.

 

BOULDER — Inscripta Inc., a gene-editing technology company based in Boulder, said on Wednesday that it has closed a $55.5 million series C funding round led by Mérieux Développement and Paladin Capital Group.

Mérieux Développement is based in France with an office in Boston, and Paladin Capital Group is a venture-capital firm based in Washington, D.C.

Additional participants included all existing Inscripta investors: Venrock, Foresite, MLS Capital and NanoDimension.

At the close of last year, Inscripta introduced its MAD7 enzyme, which is available for commercial and academic researchers. The enzyme allows researchers to…

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