Metagenomi Raises $175 Million to Advance Therapeutic Pipeline and Expand Gene Editing Platform
January 25, 2022
Gene-editing biotech Metagenomi completed an up-sized and oversubscribed series B financing round, adding $175 million to its coffers.
PFM Health Sciences, Farallon Capital Management, and a leading global investment firm led the series B financing round. 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, among others.
Proceeds from the financing will be used to advance the company’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 Metagenomi’s 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 Thomas, co-founder and CEO of Metagenomi.
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 method of discovering novel and versatile gene editing systems from nature is scientifically compelling and differentiated,” said Santhosh Palani, partner at PFM Health Sciences and investor in the company.
Author: Rare Daily Staff
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