Orig3n, a US-based genetic disease treatment developer, has raised an undisclosed sum for the first tranche of a series B round featuring diagnostics technology provider LabCorp.
Investment bank Haitong International led the first close, which included Alexandria Venture Investments, part of real estate investment trust Alexandria Real Estate Equities, Hatteras Venture Partners, 180 Degree Capital, Vectr Ventures, KTB Ventures, Defta Partners, MMIC Investment Holdings and Mountain Group Partners.
The company did not disclose how much it had raised but said the tranche increased its overall funding to $50m, up from the $35m it had cumulatively secured as of its last round in June 2017.
Founded in 2014, Orig3n uses DNA testing and personal contact with patients through networking events in order to develop personalised treatments that can repair tissue damage and disease.
The funding will be used to push out Orig3n’s research efforts in regenerative medicine development.
Orig3n raised $20m in the 2017 round, from LabCorp, Spectrum Health unit Spectrum Health Ventures, Hatteras Venture Partners, Syno Capital, KTB-Korus Fund, Mountain Group subsidiary MGC Venture Partners, Defta Partners and 180 Degree Capital. Orig3n said Spectrum was not part of the series B but “remains a supportive investor”.
LabCorp also backed the company’s $12.5m series A round in 2015, which included Syno Capital, Hatteras Venture Partners and existing backers Defta Partners, Harris & Harris Group, MGC Venture Partners and KTB.