Precision BioSciences, which focuses on genomic “editing” technology, has wrapped up a first round of venture capital funding totaling $25.6 million.
Precision has secured a number of genome-related patents.
The round was oversubscribed, the company says.
VenBio led the round.
Other investors included Fidelity Biosciences, Amgen Ventures, Baxter Ventures, Osage University Partners and the Longevity Fund.
As part of the deal, VenBio’s Robert Adelman and Fidelity Biosciences’ Ben Auspitz join the Precision board. Other members incluide Precision Chief Executive Officer, Matthew Kane and Chief Scientific Officer Derek Jantz.
The funding was announced early Monday.
“We are thrilled to welcome such a strong and diverse group of investors as our company enters into this exciting next phase of translational product development,” Kane said in a statement. “This financing will allow us to expand beyond our successful efforts to develop the leading next-gen genome editing platform and significantly accelerate the development of our genome-edited product pipeline.”
Precision’s proprietary technology for genome editing is called ARCUS.