Skip to main content
Premium Trial:

Request an Annual Quote

CRISPR/Cas-9, Cha-Ching

The flow of money to startups trying to leverage CRISPR/Cas-9 technology for clinical purposes apparently is limitless. 

Intellia Therapeutics this week said that it raised $70 million in a Series B funding round that drew some heavyweight investors, including OrbiMed HealthCare Fund Management, Fidelity Management and Research, Janus Capital Management, and others. Founding investors Atlas Venture and Novartis also participated in the round. 

The Cambridge, Massachusetts-based firm will use technology developed at the University of California, Berkeley that could allow researchers to replace parts of a cell's genetic code. The experimental method has not yet resulted in any medical treatments, and Intellia CEO Nessan Bermingham tells The Boston Globe that there is no timeline for developing a treatment. The company needs to experiment with cell cultures, generate data, and have discussions with regulators in order to ensure that potential treatments can be tested safely.

Investors have fallen in love with CRISPR/Cas-9 and the possible bounty of riches that the technology may generate. Just last month, Editas Medicine raised $120 million to develop therapeutics using the technology, and in April, CRISPR Therapeutics said it raised a total of $89 million in a combined Series A and B financing round.

Filed under