Elegen Raises $35M in Series B Funding

elegger

Elegen, a San Carlos, CA-based company which specialises in DNA synthesis and production, raised $35M in Series B funding.

The round was led by Triatomic Capital with participation from GSK and John Ballantyne, co-founder of Aldevron. Current investors, including Andreessen Horowitz (a16z Bio + Health), KdT Ventures, 8VC, Digitalis Ventures, ACVC Partners, Alix Ventures, AME Cloud Ventures and Agilent Technologies, also participated. In conjunction with the funding, Peter Zhou, General Partner of Triatomic Capital, will be joining Elegen’s board.

The company intends to use the funds to accelerate the extension of its ENFINIA™ DNA product line across clinical workflows providing the production of GMP-compliant DNA for clinical development of genetic medicines.

Founded in 2017 by Matthew Hill, Ph.D., and CEO, Elegen brings insights and technical innovation to create synthetic DNA faster. It uses a proprietary microfluidics approach to build DNA on a better timeline for agricultural, chemical, healthcare and pharma industries.

Commenting on the news, Matthew Hill said: “With this investment, we will continue to push the boundaries of DNA synthesis to accelerate upstream discovery and enable rapid and streamlined deployment of new clinical modalities.

FinSMEs

15/05/2024