US-based disease diagnostics technology developer Mammoth Biosciences has raised $195m across its series C and D funding rounds from investors including e-commerce group Amazon, it disclosed yesterday.
The company, which is now valued at over $1bn, received $150m of series D funding in a round led by investment firm Redmile Group and backed by Foresite Capital, Senator Investment Group, Sixth Street, Greenspring Associates, Mayfield, Decheng Capital, NFX and Plum Alley Investments.
Redmile Group had also joined Foresite Capital to co-lead a previously undisclosed series C round in late 2020 that closed at $45m with participation from Amazon and undisclosed existing investors.
Founded in 2017, Mammoth utilises Crispr genome editing technology to provide molecular diagnostics and genome editing services. It also aims to develop permanent genetic treatments for a range of diseases, and its technology is used in sectors including life science, healthcare and agriculture.
The company claims it was the first organisation to demonstrate Crispr-based detection of the SARS-CoV-2 virus (which causes covid-19) in patient samples through its Detectrtm platform. It will use the new funding to advance its pipeline of therapeutics, notably through the Cas14 and Casɸ Crispr systems.
Verily, a life sciences subsidiary of internet and technology conglomerate Alphabet, contributed to Mammoth’s $45m series B round in January 2020, which was led by Decheng Capital and which also featured Mayfield, NFX, Plum Alley, Pacific 8 Ventures, aMoon and private backer Brook Byers.
Mammoth had already pulled in $23m through a 2018 series A round that was led by Mayfield and which included NFX and 8VC. The company had previously enrolled in NFX’s Guild accelerator in 2017.
Trevor Martin, co-founder and CEO of Mammoth, said: “We are extremely encouraged by the support of our venture capital partners and look forward to advancing our novel Crispr systems, so that we can bring the promise of Crispr to patients — permanent, one-time cures and decentralised molecular diagnostics.”