Metagenomi Extends Series A Financing to Advance Next-Gen Gene Editing Technology

Metagenomi Extends Series A Financing to Advance Next-Gen Gene Editing Technology

Rare Daily Staff

Gene-editing biotech Metagenomi said it raised $10 million from RA Capital Management in an extension and completion of its series A financing, bringing the round to a total of $75 million.

This round, which follows the first close in November 2020, will support the expansion of the Metagenomi team and development of the company’s therapeutic pipeline. Andrew Levin, managing director at RA Capital, will join Metagenomi’s board of directors.

“The RA team adds to the diverse array of expertise at our table as we advance towards the clinic with our in vivo and ex vivo therapies and explore further opportunities for our technologies,” said Brian Thomas, co-founder and CEO of Metagenomi.

CRISPR-based gene editing is one of the most important discoveries in recent years, and a critical technology for next generation therapeutic development. With the ability to edit DNA, scientists can address a whole range of diseases, but there are still hurdles to overcome such as delivery, immunogenicity, selectivity, and genomic accessibility with current technologies.

To enable efficient technological solutions, Metagenomi is building a proprietary suite of CRISPR-based gene editing systems by applying computational algorithms to screen thousands of genomes from microorganisms around the world. The approach leverages big data and the science of metagenomics to quickly identify novel gene editing systems with properties that leapfrog first generation technologies. These include the capability to precisely edit genomes via single base changes, knockouts, or integrations, with lower potential for off-target effects.

“Metagenomi’s technology and deep scientific foundation in the field of metagenomics enables novel clinical solutions for patients as the company emerges as a new leader in the therapeutic editing field,” said Levin. “Where most approaches and pipelines are built on a single system, Metagenomi’s diverse toolbox of gene editing systems will allow the company to match the best technology to unmet medical needs.”

Leaps by Bayer and Humboldt Fund led the initial financing round. Other investors included Sozo Ventures, Agent Capital, InCube Ventures, and HOF Capital.

Photo: Brian Thomas, co-founder and CEO of Metagenomi