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Precision BioSciences Raises $25.6M in Series A Financing

NEW YORK (GenomeWeb) – Precision BioSciences today announced it has closed a $25.6 million Series A financing round.

Life sciences investor VenBio led the round, joined by Fidelity Biosciences, Amgen Ventures, Baxter Ventures, Osage University Partners, the Longevity Fund, and two unnamed public market investors.

"This financing will allow us to expand beyond our successful efforts to develop the leading next-gen genome editing platform and significantly accelerate the development of our genome-edited product pipeline," Precision BioSciences CEO Matthew Kane said in a statement.

Precision BioSciences' Arcus genome editing platform can remove, insert, and modify DNA at any location in the genome, the firm said in a statement, combining the target site flexibility of CRISPR/Cas9 along with the site specificity of homing endonucleases.

The Research Triangle Park, North Carolina-based company has signed collaborations to use its genome engineering platform in castor plants and corn.