US-based genetics technology developer eGenesis has raised $38m in a series A round backed by healthcare services provider Heritage Provider Network.
The round was co-led by Biomatics Capital and Arch Venture Partners, while Alexandria Venture Investments, the venture capital arm of property developer Alexandria Real Estate Equities, also took part along with Khosla Ventures, Alta Partners, Berggruen Holdings North America, Uprising and Fan Ventures.
Founded in 2015, eGenesis is working on genome editing technology that enables organs to be transplanted or grafted from pigs into humans, a process known as xenotransplantation.
The technology is based on research undertaken by co-founders George Church, a geneticist at Harvard Medical School, and Luhan Yang, chief scientific officer of eGenesis.
Boris Nikolic, managing director of Biomatic, and Steven Gillis, managing director of Arch, have joined the company’s board of directors alongside biotechnology industry veteran Daniel Lynch, who will serve as executive chairman.
The series A funding comes after eGenesis received $2m in financing in the form of a convertible note in August 2016.