US-based gene editing technology provider Inscripta added $20m yesterday to a series C round featuring medical technology holding company Institut Mérieux that is now sized at approximately $106m.
Institut Mérieux vehicle Mérieux Développement produced the funding together with venture capital firms Venrock, Foresite, Paladin Capital Group, MLS Capital and NanoDimension.
Inscripta supplies tools such as instruments, reagents and software in addition to specialised enzymes, that help make the gene-editing process more precise and rapid. It has now raised almost $135m in funding since it was founded in 2015.
The latest financing represents the third tranche of a round that was kicked off with $55.5m in a March 2018 close co-led by Mérieux Développement and Paladin Capital and backed by Venrock, Foresite, MLS Capital and NanoDimension. The same five added $30m in December.
Kevin Ness, Inscripta’s chief executive, said: “I would like to thank our investors for this expansion of our series C round and their continued support and enthusiasm.
“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 commercialisation efforts as we prepare to introduce these solutions to the market later this year.”
NanoDimension and MLS Capital provided $6m of series A funding for the company, which was formerly known as Muse Biotechnology, in 2016, before returning for a $23m series B round led by Venrock and also backed by Foresite and Paladin Capital the following year.
