Skip to main content
Premium Trial:

Request an Annual Quote

Morphotek Earns $10 million in Second-Round Financing

NEW YORK, Aug. 13 – Evolution acceleration company Morphotek received $10 million in second-round funding from lead investor Applied Genomic Technology Capital Funds and others, the company announced on Monday.

Philadelphia-based Morphotek, which is developing technology to create new varieties of proteins, cells, plants, and animals with commercially valuable traits, plans to use the additional funding to expand overall operations, including hiring additional employees and increasing the efforts in its antibody-based therapeutic and agriculture programs.

“Morphotek's technology harnesses the power of evolution to improve the function of a single gene, or of many genes at once, and does not require advanced knowledge of which genes to choose," David Stone, a partner at AGTC Funds, said in a statement. "This offers significant advantages over other methods of applied evolution, and should enable Morphotek to develop a wide range of valuable products.”   

Other investors included Burrill & Co. and CB Healthcare Ventures. Existing investors include Tonbridge Capital and Trieste Investment Group.

Morphotek was founded in May 2000 by CEO Nicholas Nicolaides, COO Philip Sass, and Vice President of Research and Development Luigi Grasso.

The Scan

Push Toward Approval

The Wall Street Journal reports the US Food and Drug Administration is under pressure to grant full approval to SARS-CoV-2 vaccines.

Deer Exposure

About 40 percent of deer in a handful of US states carry antibodies to SARS-CoV-2, according to Nature News.

Millions But Not Enough

NPR reports the US is set to send 110 million SARS-CoV-2 vaccine doses abroad, but that billions are needed.

PNAS Papers on CRISPR-Edited Cancer Models, Multiple Sclerosis Neuroinflammation, Parasitic Wasps

In PNAS this week: gene-editing approach for developing cancer models, role of extracellular proteins in multiple sclerosis, and more.