Telecommunications and internet conglomerate SoftBank’s Vision Fund 2 co-led a series B round for US-based genomic drug developer Tessera Therapeutics yesterday sized at more than $230m.
The round was co-led by the state-owned Alaska Permanent Fund Corporation and venture capital firm Altitude Life Science Ventures, and it also featured sovereign wealth fund Qatar Investment Authority and undisclosed other investors.
Tessera is developing therapeutics for genetic diseases that will utilise gene writing, a technique that involves writing therapeutic messages into the genome. It could potentially be applied to cancer and cardiovascular, neurodegenerative and infectious diseases.
The startup was formally launched in July 2020 by company builder Flagship Pioneering and its gene writing technology was developed within the firm’s Flagship Labs hub.
Geoffrey von Maltzahn, Tessera’s co-founder and chief executive, said: “We are grateful to have support from world class investors in this funding round. The ability to write in the code of life will be a defining technology of this century and drive a fundamental change in medicine.
“Today’s support is a testament to Tessera’s outstanding team of scientists and our focus on bringing the extraordinary promise of gene writing to patients. We look forward to turning this powerful technology into a new category of medicines.”
