Editas Medicine, a Cambridge, MA-based genome editing company, raised $120m in Series B private financing.
The round was led by Boris Nikolic, M.D., 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 with participation from new investors Deerfield Management, Viking Global Investors, Fidelity Management & Research Company, funds and accounts managed by T. Rowe Price Associates, Google Ventures, Jennison Associates on behalf of certain clients, Khosla Ventures, EcoR1 Capital, Casdin Capital, Omega Funds, Cowen Private Investments and Alexandria Venture Investments as well as founding investors Flagship Ventures, Polaris Partners and Third Rock Ventures, and Partners Innovation Fund. In conjunction with the financing, Dr. Nikolic has joined the Editas Medicine board of directors.
The company intends to use the funds for the advancement of multiple new therapies into studies which can prove their utility.
Led by Katrine Bosley, CEO, Editas Medicine is a genome editing company which develops CRISPR/Cas9 and TALE technologies to translate them into novel solutions to treat a broad range of genetically-driven diseases.
The CRISPR (Clustered, Regularly Interspaced Short Palindromic Repeats)/Cas9 (CRISPR-associated protein 9) system uses a protein-RNA complex composed of an enzyme known as Cas9 bound to a guide RNA molecule designed to recognize a particular DNA sequence. The RNA molecule guides the Cas9 complex to the location in the genome that requires repair.