Inscripta, Inc., today announced the company has raised $125 million in a Series D financing with support from the company’s existing investors and new investors JS Capital Management LLC and Oak HC/FT. Paladin Capital Group led the round, bringing the total amount raised by the company to $259.5 million. The new funds will be used to accelerate applications expansion and commercialization of the company’s revolutionary Onyx™ Digital Genome Engineering platform.
The Onyx platform is the world’s first fully automated benchtop instrument for genome-scale engineering. Consisting of an instrument, consumables, software, and assays, it enables scientists to create libraries of millions of precisely engineered single cells in one experiment through a fully automated workflow. The new platform offers immediate and significant benefits that will give scientists in genome discovery, healthcare, bio-industrial materials development and manufacturing, and sustainability the power to design, engineer, evaluate, and track results of genome engineering experiments in their own labs.
“We have been extremely impressed with the Inscripta team’s passion, focus, and relentless execution, which culminated in the successful launch of the Onyx Digital Genome Engineering platform,” said Paul Conley, PhD, Managing Director & Venture Studio Director at Paladin Capital Group. “We are thrilled to lead this funding round and believe Inscripta’s technology will be essential for enabling biology to become the driving force of our economy.”
“The overwhelming interest we received with the recent launch of our Onyx platform along with this significant funding offer tremendous validation of our novel approach to genome engineering and its power to unlock the full potential of the emerging bioeconomy,” said Kevin Ness, PhD, CEO of Inscripta. “We are excited to see that by overcoming the limitations of existing CRISPR-based gene editing, our digital genome engineering tools are already having a significant impact by enabling researchers to design experiments that were previously impossible. The new funding provides us with the resources to ramp up faster to meet the anticipated high demand for our platform.”
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Source: Business Wire
