Switzerland-based biopharmaceutical technology developer Crispr Therapeutics closed $38m in funding on Friday, boosting a series B round backed by pharmaceutical firms Bayer and Vertex Pharmaceuticals to $140m.
Crispr Therapeutics is developing medicines based on Crispr/Cas9 gene-editing technology to treat serious diseases, having licensed the technology from its scientific founder, Emmanuelle Charpentier, who co-invented the Crispr/Cas9 process.
The company raised $25m in series A funding from Versant Ventures in 2014 before closing $64m in series A and B capital in April 2015 from pharmaceutical companies GlaxoSmithKline and Celgene, the former through its SR One unit, as well as New Enterprise Associates, Versant and Abingworth.
Bayer invested $35m in Crispr in December 2015 alongside the formation of a five-year, $300m co-development deal, two months after Vertex provided $30m of equity funding alongside a $75m licensing agreement.
The extra $38m was supplied by Franklin Templeton Investments, New Leaf Venture Partners, funds advised by Clough Capital Partners and Wellington Capital Management.
Rodger Novak, CEO of Crispr Therapeutics, said: “Along with the recent investments made by our strategic partners, Vertex and Bayer, we believe this further investment represents a strong validation of our approach to translate the novel Crispr/Cas9 gene-editing technology into life-changing medicines for patients.
“We plan to use these proceeds to advance our current and future programs to the clinic and to expand our research and development organisation in Cambridge, Massachusetts.”
Guggenheim Securities was financial advisor to Crispr Therapeutics for the latest funding, while Vischer and Goodwin Procter served as legal counsel.