Pharmaceutical and agricultural product maker Bayer has co-led a $65m series A round for US-based gene editing technology startup Metagenomi through corporate venturing subsidiary Leaps by Bayer.
The round was co-led by Humboldt Fund and also featured fellow venture capital fund Sozo Ventures, VC firms Agent Capital and InCube Ventures, and technology investment firm HOF Capital.
Metagenomi has developed Crispr-based technology intended to accurately edit DNA for use in gene and cell therapies. It screens thousands of genomes from different microorganisms using big data and computational algorithms to identify the best gene-editing techniques.
The company was founded in 2018 as a spinout of University of California, Berkeley, and raised $27.3m from undisclosed investors in August 2019 according to a securities filing.
Juergen Eckhardt, head of Leaps by Bayer, said: “Gene editing is a paradigm shifting technology which will continue to move the needle from treatment to cure in many genetically inherited diseases and significantly improve the world around us for the better.
“Leaps by Bayer is committed to advancing new breakthroughs in gene editing and is thrilled to partner with Metagenomi in its mission to discover tomorrow’s gene editing technologies.”
Brian C. Thomas, Metagenomi’s co-founder and CEO, added: “Metagenomi is accelerating innovation in gene editing technology to help patients with genetic diseases that are incurable today. This means developing a vast database of gene editing capabilities to enable unprecedented therapeutic approaches.
“Working with visionary investors, such as Leaps by Bayer and Humboldt Fund, will allow us to deliver on our promise to partners and fuel the development of our own pipeline of innovative curative medicines.”
