A startup that wants to make it easier to tweak our genes just got $120 million from investors including Bill Gates
Nishimasu et al, 2014
Editas Medicine, a company aimed at providing technologies that enable scientists to tweak our genes, just raised $120 million to continue studying a novel new technology that could make this far easier.
The tool is known as CRISPR-Cas9, and it could eventually allow scientists to home in on a particular, potentially faulty gene and swap it out with another, potentially healthy one.
Already, scientists have used the tool to essentially repair defective DNA in mice - curing them of genetic disorders. In April, Chinese researchers working with non-viable human embryos (those that would never end up turning into people) used it to try to tweak a gene that would normally have caused a rare blood disorder.
Editas, a startup based in Cambridge and founded in November 2013, wants to eventually use the technology to treat disease by coming up with therapies that can modify faulty disease-causing genes. For example, researchers could use the technology to replace a disease-causing mutated gene with a healthy one.
It started with $43 million when it was founded. Most recently the startup inked a deal with Juno Therapeutics, a startup focused on cell therapies for cancer back in May, worth $25 million upfront plus $22 million in research support, and up to $230 million if any treatments come up.
The main financial company in this round is a group called bng0, which Forbes reports is backed by Bill Gates and Boris Nikolic, Gates' former scientific advisor. Nikolic, who led the funding round, will join the Editas board of directors.
"They all appreciate the vast potential of this science," says Katrine Bosley, the chief executive of Editas told Forbes. "The heart of the conversation we had with everybody is how you translate this very exciting but young science into treatments, into therapies."
Editas told Forbes this latest round of funding will be enough to keep the company running for at least three years.
- I spent $2,000 for 7 nights in a 179-square-foot room on one of the world's largest cruise ships. Take a look inside my cabin.
- Saudi Arabia wants China to help fund its struggling $500 billion Neom megaproject. Investors may not be too excited.
- Colon cancer rates are rising in young people. If you have two symptoms you should get a colonoscopy, a GI oncologist says.
- ITC plans to open more hotels overseas: CMD Sanjiv Puri
- 2024 LS polls pegged as costliest ever, expenditure may touch ₹1.35 lakh crore: Expert
- 10 Best things to do in India for tourists
- 19,000 school job losers likely to be eligible recruits: Bengal SSC
- Groww receives SEBI approval to launch Nifty non-cyclical consumer index fund