- Inscripta announced that it has raised $125 million in Series D funding to commercialize the company’s Onyx Digital Genome Engineering platform
Inscripta has announced that it raised $125 million in a Series D round of funding with support from its existing investors and new investors JS Capital Management LLC and Oak HC/FT. And Paladin Capital Group led the round thus bringing the total amount raised by the company to $259.5 million. With this round of funding, Inscripta plans to accelerate application expansion and commercialization of the company’s Onyx Digital Genome Engineering platform.
The Onyx platform is considered the world’s first fully automated benchtop instrument for genome-scale engineering. The platform consists of an instrument, consumables, software, and assays. And it enables scientists to create libraries of millions of precisely engineered single cells in one experiment through a fully automated workflow.
“The overwhelming interest we received with the recent launch of our Onyx platform along with this significant funding offer tremendous validation of our novel approach to genome engineering and its power to unlock the full potential of the emerging bioeconomy,” said Kevin Ness, PhD, CEO of Inscripta. “We are excited to see that by overcoming the limitations of existing CRISPR-based gene editing, our digital genome engineering tools are already having a significant impact by enabling researchers to design experiments that were previously impossible. The new funding provides us with the resources to ramp up faster to meet the anticipated high demand for our platform.”
The new platform offers immediate and significant benefits that will give scientists in genome discovery, healthcare, bio-industrial materials development and manufacturing, and sustainability the power to design, engineer, evaluate, and track results of genome engineering experiments in their own labs.
“We have been extremely impressed with the Inscripta team’s passion, focus, and relentless execution, which culminated in the successful launch of the Onyx Digital Genome Engineering platform,” added Paul Conley, PhD, Managing Director & Venture Studio Director at Paladin Capital Group. “We are thrilled to lead this funding round and believe Inscripta’s technology will be essential for enabling biology to become the driving force of our economy.”
