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Synthetic Biology Firm Evonetix Raises $12.3M

NEW YORK (GenomeWeb) – Synthetic biology firm Evonetix announced today that it has closed a $12.3 million financing round.

The financing was co-led by Data Collective and Draper Esprit, and included Morningside Group along with existing investors Providence Investment Company, Cambridge Consultants, Rising Tide Fund, and Civilization Ventures. Evonetix was spun out of Cambridge Consultants in 2016.

The firm said it will use the funding to further develop its core gene synthesis platform, which uses an addressable silicon array to direct the synthesis of DNA at many sites in parallel, followed by an error-detection process to allow the assembly of high-fidelity DNA at scale.

"Evonetix's platform offers the prospect of synthesizing DNA sequences accurately without limitation of size," Draper Esprit Partner Vishal Gulati said in a statement. "This is the superpower that could transform the world of synthetic biology and allow us to engineer next-generation medicines and better versions of products we use every day."