NEW YORK — OriCiro Genomics, a Japanese manufacturer of DNA for therapeutic and synthetic biology applications, said on Tuesday that it has raised ¥800 million ($7.3 million) in Series B funding and secured a ¥200 million long-term loan.
The financing round was led by University of Tokyo Edge Capital Partners and included ITOCHU Technology Ventures. The loan was provided by Japan Finance, a government-affiliated financial institution.
OriCiro was founded in late 2018 to develop and commercialize a proprietary technology for the cell-free assembly and amplification of large circular DNA. The so-called OriCiro Cell-Free Cloning System has applications in the pharmaceutical, diagnostic, agriculture, and food industries, according to the Tokyo-based company.
OriCiro said it will use the proceeds of the Series B round and loan to expand its manufacturing capabilities, advance its R&D, establish a US subsidiary, expand its intellectual property estate, and bring on new hires. It is also planning to launch a new plasmid DNA supply business aimed at the pharmaceutical and drug discovery markets.