RESEARCH TRIANGLE PARK – AgBiome, a Triangle startup focusing on gene editing technologies, is spinning off part of its operations.
Known as LifeEDIT Therapeutics and built around a genome editing platform, the group becomes part of ElevateBio, a Cambridge, Mass.-based cell and gene therapy holding company.
The deal was announced early Monday. Financial terms were not disclosed.
“AgBiome’s Genesis platform is built on our microbial collection, their complete genome sequences, and our industry-best data science platform to identify new useful functions,” said Eric Ward Co-Chief Executive Officer, AgBiome. “This unique resource formed the basis for the many genome editing technologies that are now part of LifeEDIT Therapeutics. We look forward to continuing to collaborate with the LifeEDIT team as they build a world-class pipeline of clinical candidates and bring a broad array of genome editing technologies to innovators across the biotechnology industry.”
AgBiome retains rights to gene editing for agriculture, animal health and diagnostics.
“Genome editing technologies have revolutionized the way we develop cell and gene therapies and regenerative medicines,” said Mitchell Finer, part of the ElevateBio management team who was named CEO of LifeEDIT.
“However, in order to realize the promise of, and democratize, these highly innovative therapeutic approaches, the field needs to access novel RNA-guided nucleases and base editors that offer greater specificity and broader genome coverage, which LifeEDIT can provide. LifeEDIT’s genome editing platform is one of the most versatile in the field and was the natural fit as we continue to build a world leading cell and gene therapy offering.”
The companies noted that “LifeEDIT Therapeutics combines a highly innovative genome editing platform, derived from AgBiome’s massive proprietary microbial library, with ElevateBio’s proven expertise in the discovery and development of new cell and gene therapies. LifeEDIT will continue to develop internal cell and gene therapies while further strengthening its platform of diverse genome-editing enzymes and provide gene editing expertise to strategic partners including ElevateBio portfolio companies.”
