Genomic-editing platform developer Inscripta Inc. said it raised $150 million in its Series E funding round, marking yet another multi-million funding haul for biotech companies in the Boulder area.
In a statement, the company said the round was co-led by Fidelity Management & Research Co. LLC and T. Rowe Price Group Inc. (Nasdaq: TROW). It brings Inscripta’s total investments from venture capital to more than $410 million since it was founded in 2015, and eclipses its $125 million Series D in late 2019.
The round has not been disclosed to the U.S. Securities and Exchange Commission as of Monday morning.
Inscripta also said its first commercial shipment of its Onyx genomic editing platform was delivered to the University of Liverpool in England.
Genomic engineering, also known as “gene editing,” is the process of adding or removing certain parts of a living organism’s genetic blueprint and purposefully creating mutations. In the University of Liverpool’s case, researchers there intend to use Inscripta’s platform as part of its synthetic biology program that researches ways to modify yeast and other existing organisms to produce byproducts such as fuel, sweeteners and medicinal ingredients.
The process could be used in humans to cure genetically driven diseases such as cancer, but remains the center of a larger debate over medical ethics of manipulating the human genome.
Inscripta’s round is just the latest cache of funding infused into the Boulder biotech industry. Just last week alone, Edgewise Therapeutics Inc. (Nasdaq: EWTX) maxed out its funding target at $202.4 million in its public debut, while SomaLogic Inc. announced that it would go public later this year via a SPAC acquisition in a deal that values it as a unicorn and would add as much as $651 million in cash to its books.
A company spokesperson said Inscripta has no plans to go public anytime soon, and declined to specify how much the company is valued under the latest financing round.
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