US-Based Genome Editing Company Raises $120 Million to Develop Drugs

Editas Medicine, a leading genome editing company has raised $120 million in a highly oversubscribed Series B private financing. Bill Gates and the venture capital arm of Google have also participated in the fundraising for Editas Medicine.

Editas is translating the promise of CRISPR/Cas9 technology into a new class of transformative genomic medicines to treat a broad range of diseases at the genetic level.

"With this financing, we have a strong foundation from which we can broadly develop our genome editing platform and advance multiple new therapies toward clinical trials. We are grateful for such strong support from so many high-quality investors who share our vision to translate this powerful science into transformative medicines," said Katrine Bosley, CEO, Editas Medicine.

The new investor syndicate was led by Boris Nikolic, managing director of bng0, a U.S.-based investment company that was formed to invest exclusively in Editas Medicine and includes a select group of large family offices with a global presence and long-term investment horizon.

"Editas Medicine has made great strides in the development of CRISPR/Cas9 technology. The company is at the forefront of genome editing - one of the most exciting and important frontiers in science. I look forward to joining the board of directors and contributing to the team's continued growth and success," said Dr. Nikolic.

Before creating bng0, Dr. Nikolic most recently served as chief advisor for science and technology to Bill Gates at bgC3 and also at the Bill & Melinda Gates Foundation.

Source: Medindia