Thursday December 20, 2018 0 comments
BOULDER -- Inscripta, a gene-editing technology company, today announced MAD7, its proprietary CRISPR enzyme, has achieved wide adoption by academic, commercial, and government researchers in its first year of availability.
MAD7 was recently recognized by the Scientist magazine as one of the "Top 10 Innovations of 2018."
To build on the progress that Inscripta has had over the past 12 months and to speed the development and commercialization of its cutting-edge, gene-editing tools, the company's existing investors have agreed to contribute an additional $30 million in funding, bringing the 2018 fundraising total to $85.5 million.
"In just a year, our MAD7 enzyme has empowered researchers to pursue the next generation of genomic research and gene-editing discoveries," said Kevin Ness, Inscripta CEO.
"The next step is for Inscripta to offer biotech innovators a suite of new technology tools to enable forward cell-engineering in a way never before possible. Impressed with our progress, our current investors decided to double down and make an investment that will quicken our ability to bring these tools to market."
The new funding is an expansion of the Series C round Inscripta raised earlier this year. The new funding comes from existing investors Venrock, Foresite, Mérieux Développement, Paladin Capital Group, MLS Capital, and NanoDimension.
Inscripta said it is developing additional MADzymes, including bespoke enzymes for researchers and commercial partners, as well as a full suite of gene-editing tools (software, instruments, and reagents) that will significantly increase the speed and efficiency of CRISPR gene editing.
On Dec. 13, 2017, Inscripta first introduced its MAD7 enzyme, making it fully available to commercial and academic researchers with no up-front licensing fees or "reach-through royalties" on products made using the technology.
In July, Inscripta released data showing the potential for using MAD7 in human therapeutic and diagnostic applications, as well as biological development and manufacturing in a wide array of cell lines.
In the same month, the USPTO granted Inscripta its first patents covering editing systems using MAD7 and another enzyme MAD2 in multiple diverse cell types.
Inscripta said it is continuing to pursue additional patent protection on uses of MAD7 and other Inscripta proprietary enzymes.
Additionally this year, Inscripta completed the strategic acquisition of Solana Biosciences, a life sciences company founded by Illumina™ (ILMN) veterans. In doing so, Inscripta said it has assembled an elite, life-sciences product development and manufacturing pipeline for precision gene editing.