NEW YORK – Molecular Assemblies announced Thursday that it raised an additional $11.8 million for its Series A financing round.
The money represents new investment from Lyfe Capital and additional funding from previous investors iSelect Fund, Agilent Technologies, Alexandria Venture Investments, Codexis, and Argonautic Ventures. Molecular Assemblies said it would use the funds to advance its proprietary enzymatic DNA synthesis technology.
"We have supported Molecular Assemblies over several years and are very with impressed the progress they have made," Agilent Senior VP and Chief Technology Officer Darlene Solomon said in a statement. "The cost-effective production of ever-lengthening strands of DNA will fuel even greater opportunities for nucleic acid-driven innovation and contribution across numerous industries."
San Diego-based Molecular Assemblies initially announced it had raised $12.2 million in a Series A financing in 2019 led by iSelect Fund and joined by Agilent, Alexandria Venture Investments, and Keshif Ventures.
A 2016 seed funding round brought in $2.3 million from Agilent, Cavendish Impact Capital Fund, Eleven Two Capital, Keshif Ventures, Genomics Investment Syndicate, Newport Holdings, and Alexandria Venture Investments.
In more recent news, Molecular Assemblies partnered with enzyme engineering firm Codexis last year to improve its process for synthesizing DNA.
"Codexis and Molecular Assemblies have delivered substantial enzymatic synthesis improvements already," Codexis President and CEO John Nicols said in the statement today. "Codexis' engineered enzyme performance continues to accelerate and is well on its way to reach the milestones required to differentiate versus the industry standard phosphoramidite chemistry method."