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Precision Biosciences Receives $3M to Further Develop Genetic Engineering Technology

By a GenomeWeb staff reporter

NEW YORK (GenomeWeb News) – Precision Biosciences today said it has been awarded four government grants totaling more than $3 million for further development of its genome engineering technology.

The grants are from the National Institute of Standards and Technology, the US Department of the Treasury, the National Institutes of Health, and the state of North Carolina.

In a statement, Michael Nicholson, director of cell biology at the Durham, N.C., company said Precision Bio is ready to use its Directed Nuclease Editor technology to "address major challenges facing the biomanufacturing industry," and the funds will allow it to refine applications for the technology, in particular applications for cell line engineering.

Using custom-made DNA-cutting enzymes, Precision Bio changes the genetic sequence of a natural genome editing meganuclease to create a custome meganuclease with DNA-recognition and cleavage properties.