CRISPR-focused companies in the biotech landscape are continuing to grow, and Cambridge-based Intellia Therapeutics is just one of many leading the pack. The company has announced it secured a $70 million Series B financing round led by OrbiMed HealthCare Fund Management.
“OrbiMed is excited to lead this financing of Intellia, one of the leading companies developing gene-editing technology for human therapeutic use,” said Carl L. Gordon, Ph.D., a founding Partner and Co-Head of Global Private Equity at OrbiMed in a release.
Gordon will also be joining the Intellia Board of Directors.”CRISPR/Cas9 gene-editing has the potential to bring treatments to patients with no viable options,” he said.
When Investment Rhymes with Canada
Canada has a proud history of achievement in the areas of science and technology, and the field of biomanufacturing and life sciences is no exception.
Additional investors included Fidelity Management and Research Company, Janus Capital Management, Foresite Capital, Sectoral Asset Management, EcoR1 Capital as well as Founding investor Atlas Venture and Novartis.
The money will be used to further develop its intellectual property portfolio and advance its existing CRISPR/Cas9 gene-editing technology.
“Intellia is delighted to welcome this group of specialist, long term, healthcare investors to our existing syndicate. We feel this financing reflects the strong support for our business model and positions us to rapidly advance our company and strategy,” Nessan Bermingham, Ph.D., Founder and Chief Executive Officer of Intellia Therapeutics, said in a release. “Our mission is to accelerate the development of potentially curative proprietary products for unmet medical needs. We are committed to extending our platforms, expanding strategic alliances to enable us to get products to patients, and hiring the best talent in the industry.”
