US-based disease diagnostics technology developer Mammoth Biosciences secured $45m in series B funding yesterday from investors including internet and technology conglomerate Alphabet’s life sciences research arm, Verily.
Life sciences investment firm Decheng Capital led the oversubscribed round, which was also backed by Mayfield, NFX, Plum Alley Investments, Pacific 8 Ventures, aMoon and private investor Brook Byers.
Mammoth is developing disease detection systems using Crispr DNA technology, although it focuses on the Cas14 enzyme rather than the Cas9 enzyme typically utilised in gene-editing activities.
The series B proceeds will go to expanding the company’s work into areas like gene editing and medicines. It has already formed a partnership with gene-editing services provider Horizon Discovery to develop Crispr-based cell line-editing tools.
Andrew Harrison, Verily’s head of business and corporate development, said: “One of our missions is to identify and develop the next wave of innovative healthcare companies and support them through investment and inclusion in our Partner’s Space program on Verily’s campus.
“Mammoth is clearly one of these companies, driving the next-generation of Crispr products that researchers at the forefront of gene editing and diagnostics truly need.”
Mayfield led the company’s $23m series A round in mid-2018, investing together with NFX and 8VC. It had previously passed through NFX’s Guild accelerator in 2017.
