Metagenomi, an Emeryville, California-based Genetic medicines company, raised $100 million, concluding a Series B extension financing. The funding round was co-led by Novo Holdings, Catalio Capital Managements and SymBiosis, with contributions from new and existing investors.
“This additional capital gives us visibility on initial clinical milestones as well as an expanded pipeline of in vivo gene editing applications,” said Brian C. Thomas, CEO and Founder of Metagenomi.
With over 30 investor organizations participating, the most recent financing rounds have increased Series B’s total proceeds to $275 million. The manufacturer of the next-generation gene editing tools constructed a cutting-edge Good Manufacturing Practices (GMP) facility in October of last year to assist its development.
As we begin a new year, we wanted to take a moment and reflect on what we accomplished in 2022. Here are just a few highlights! We can't wait to continue our work on novel gene editing technologies in 2023 and get one step closer to treating patients in need. pic.twitter.com/z46OZ1jcVm
— Metagenomi (@metagenomi) January 3, 2023
“The closing of this Series B extension financing is a testament to our significant progress over the past year. We further expanded our toolbox of wholly-owned, next-generation gene editing technologies, embarked on our first nonhuman primate (NHP) in vivo gene editing proof-of-concept studies and strengthened our strategic business development alliances,” said Brian C. Thomas
The flexible and modular facility would support the company’s ambition to create precise gene-editing tools and treat diseases with high unmet demand. The development of its early clinical proprietary and collaborative therapy programs will be made possible by this first stage.
Metagenomi’s goal is to revolutionize gene editing for the benefit of patients around the world
The goal of Metagenomi, a business specializing in gene editing, is to create potentially curative treatments by using a collection of next-generation gene editing tools to edit DNA in situations where existing technologies fall short precisely.
The biotech company’s analytical know-how and discovery platform identify novel cellular machinery derived from previously unidentified organisms. These naturally evolved mechanisms are modified and transformed into potent gene editing tools that are incredibly tiny, highly efficient, highly specific, and less likely to elicit an immune response. These systems fuel their pipeline of innovative medications.
“Metagenomi’s next-generation technology platform, preclinical progress, numerous validating partnerships and strong investors, we believe the Company is well positioned to rapidly develop therapeutics to treat a broad range of genetic diseases,” said Ray Camahort, Ph.D., Partner at Novo Ventures.
After forming profitable alliances with Moderna and Ionis Pharmaceuticals, Metagenomi has a sizable cash runway. With this extra funding, the company can push its lead therapeutic projects through preclinical development and into clinical proof-of-concept.
The company also intends to add more therapeutic targets to its pipeline of genetic medicines, which will be expanded into more preclinical proof-of-concept trials thanks to its automated discovery engine and flexible gene editing toolset.