NEW YORK – Biomarker discovery firm Engine Biosciences said on Tuesday that it has completed a $27 million extension to its Series A financing round.
Polaris Partners led the extension, with participation from new and existing investors, including ClavystBio, Invus, EDBI, Coronet Ventures, and SEEDS Capital.
The firm said in a statement that it will use the funds to advance its biomarker and target discovery programs toward the clinic through internal development, collaborations, and partnerships.
"We have witnessed firsthand Engine's considerable progress since our initial investment, advancing its technologies towards compelling precision medicines positioned for translation," Polaris managing partner Amy Schulman said in a statement. "We are excited to lead this strong investor syndicate in support of Engine's pursuit of clinical value creation through development of its therapeutics, biomarkers, and partnerships."
Engine initially announced a $43 million Series A financing round in May 2021. The additional funding brings the round's total to $70 million; the firm said it has raised $86 million to date. The Singapore-based company is building a "search platform" for biology called NetMappr to map biological networks and reveal genetic and molecular interactions critical for diseases. It also offers the CombiGem combinatorial CRISPR screening platform.
In conjunction with the financing, Wen Qi Ho, therapeutics lead at ClavystBio, joined the firm's board of directors.