Original from: Genomeweb
Gene editing company Metagenomi said on Tuesday that it has raised $175 million in a Series B financing round, bringing the total funding for the Emeryville, California-based startup to $300 million.
The round, which was upsized and oversubscribed, was led by PFM Health Sciences, Farallon Capital Management, and an undisclosed global investment firm. Other new investors included Eventide Asset Management, Deep Track Capital, Frazier Life Sciences, Pura Vida Investments, Irving Investors, Millennium Management, Surveyor Capital, Marshall Wace, Novo Holdings, Bristol Myers Squibb, and strategic partner Moderna. They were joined by existing investors, including RA Capital Management, Leaps by Bayer, and Humboldt Fund.
Launched by scientists at the University of California, Berkeley in 2018, Metagenomi has been screening genomes from microorganisms around the world to identify novel gene editing systems that are capable of precisely editing genomes via single-base changes, knockouts, or integrations, and with lower potential for off-target effects.
The firm plans to use the new funding to further develop these tools and to advance its in vivo and ex vivo gene editing therapeutic programs through preclinical development and into the clinic by expanding its manufacturing, automation, and AI infrastructure.
"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," said Brian Thomas, CEO and cofounder of Metagenomi, in a statement.
The new financing follows a $65 million Series A round that Metagenomi completed in November 2020.
