Boulder, Colorado-based gene editing company Inscripta announced it has increased its previously announced Series C funding round with $20 million from existing investors. This new funding round adds to the $85.5 million that the company announced last year and brings the total to $105.5 million.
This new round of funding comes from existing investors Venrock, Foresite, Mérieux Développement, Paladin Capital Group, MLS Capital, and NanoDimension.
“I would like to thank our investors for this expansion of our Series C round and their continued support and enthusiasm,” said Inscripta CEO Kevin Ness. “We are making rapid progress in developing an innovative suite of gene editing tools, and the funds from this round will help us ramp our commercialization efforts as we prepare to introduce these solutions to the market later this year.”
Inscripta has been developing a full suite of gene editing tools including software, instruments, and reagents in order to significantly increase the speed and efficiency of CRISPR-based gene editing.
“In my view, gene editing is where DNA sequencing was shortly before the advent of next-generation sequencing,” added Inscripta’s chairman of the board of directors and company co-founder John Stuelpnagel. “Researchers desperately need a scale transformation that will allow gene editing efforts to be as useful and as informative as possible. I believe that Inscripta will make that transformation possible.”
Last year, Inscripta announced the broad adoption of MAD7 — which is a proprietary CRISPR enzyme the company offers to commercial and academic researchers without up-front licensing fees or “reach-through royalties” on discoveries that are made using the technology.
Prior to launching Inscripta, Ness co-founded QuantaLife and 10x Genomics. And Stuelpnagel was the first co-founder and CEO Illumina and chairman of 10x Genomics.