NEW YORK (GenomeWeb) — Gene editing firm Recombinetics announced today that it has closed a $34 million Series A financing round.
Recombinetics, which was founded in 2008, uses TALEN and CRISPR-Cas9 genome editing technologies for three purposes: animal agriculture and aquaculture; swine models for preclinical research; and swine models for therapeutic cell, tissue, and organ generation. In 2016, for example, the company and academic collaborators reported the creation of naturally hornless dairy cattle.
Recombinetics said it intends to use the Series A funding to add scientific, business development, marketing, and management staffers; grow its intellectual property portfolio; and expand its lab, animal care, and advanced reproductive facilities. It also said that it has converted or repaid all of its outstanding debt in conjunction with the financing.
"This financing will allow us to accelerate commercialization of this transformative science to help find cures for human diseases, develop new regenerative medicine products, and breed animals that are healthier and more productive," Recombinetics President and CEO Tammy Lee said in a statement.