Inscripta Completes $20M Expansion of Series C Financing, Increasing Total Round to $105.5M
By: Colorado BioScience Association Date: 04/08/2019
Inscripta, a leading gene editing technology company, today announced that it has increased its previously announced Series C financing with an additional $20 million from existing investors. The new funding adds to the $85.5 million financing Inscripta announced in 2018, bringing the total raised for the round to $105.5 million.
“I would like to thank our investors for this expansion of our Series C round and their continued support and enthusiasm,” said Kevin Ness, CEO of Inscripta. “We are making rapid progress in developing an innovative suite of gene editing tools, and the funds from this round will help us ramp our commercialization efforts as we prepare to introduce these solutions to the market later this year.”
The new funding comes from existing investors: Venrock, Foresite, Mérieux Développement, Paladin Capital Group, MLS Capital, and NanoDimension.
Inscripta is developing a full suite of gene editing tools (software, instruments, and reagents) that will significantly increase the speed and efficiency of CRISPR-based gene editing.
“In my view, gene editing is where DNA sequencing was shortly before the advent of next-generation sequencing,” said John Stuelpnagel, Chairman of Inscripta’s Board of Directors. “Researchers desperately need a scale transformation that will allow gene editing efforts to be as useful and as informative as possible. I believe that Inscripta will make that transformation possible.”
In December 2018, Inscripta announced the broad adoption of MAD7, the proprietary CRISPR enzyme the company has offered to commercial and academic researchers with no up-front licensing fees or “reach-through royalties” on discoveries made using the technology.
Inscripta is a gene editing technology company that puts researchers in control by making it easy for them to get all they need for cutting-edge, single cell engineering. These tools include a family of CRISPR enzymes (called MADzymes), custom nucleases for researchers and commercial partners, and a full suite of gene editing tools (instruments, reagents, and software) that will significantly increase the speed and efficiency of multiplexed, precision gene editing. By removing the barriers to single cell engineering and gene editing research, Inscripta will usher in a new era of advances to revolutionize how we feed, fuel, and heal humanity.
Inscripta is led by several genomic technology veterans including CEO Kevin Ness, who co-founded QuantaLife and 10x Genomics, and John Stuelpnagel, the chairman of the company’s board, who was co-founder and first CEO of Illumina (ILMN) and chairman of 10x Genomics. Inscripta is headquartered in Boulder, Colo.; has offices in Pleasanton, Calif. and San Diego; and is backed by Venrock, Foresite, Mérieux Développement, Paladin Capital Group, MLS Capital, and NanoDimension. For more information, visit: www.inscripta.com.