Metagenomi Plans $87 Million IPO to Advance Next-Generation Gene Editing Therapies

Feb 06, 2024 07:29 CST Updated 07:30

Metagenomi

Gene Technology Researcher

▎Edited by the WuXi AppTec content team

Today, Metagenomi, Inc. stated in its filing with regulatory authorities that it plans to raise nearly $87 million through its IPO. Unlike biotech companies that have already completed their IPOs this year,Metagenomi, Inc. is a platform-based company without clinical-stage development projects, aiming to develop a differentiated next-generation gene editing system toolbox.

Metagenomi’s fundamental strategy for gene editing discovery and development begins with a vast amount of metagenomic data, utilizing advanced AI-based cloud computing to discover natural nucleases from nature, which are then engineered to create gene editing therapies.Metagenomi has tested hundreds of new gene editing tools and validated their utility in human therapeutics. The gene editing tools developed by the company include CRISPR gene editing systems, ultra-compact base editing systems, and CRISPR-associated transposase (CAST) systems, which enable precise insertion of large DNA segments into the genome.

▲Metagenomi's Gene Editing Tool (Image Source: Metagenomi's Official Website)

The company reached an agreement with Moderna in 2021Strategic R&D Collaboration, combining Metagenomi's novel CRISPR gene editing tools and leveraging Moderna's advanced mRNA platform and lipid nanoparticle (LNP) delivery technology, to develop curative therapies for patients with severe genetic disorders. In 2022, the company completed a $175 million Series B financing round.

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References:

[1] Preclinical gene editing biotech Metagenomi outlines modest $87M IPO ambitions. Retrieved February 5, 2024, from https://www.fiercebiotech.com/biotech/preclinical-biotech-metagenomi-outlines-modest-87m-ipo-ambitions

[2] Metagenomi, Inc. S1. Retrieved February 5, 2024, from https://www.sec.gov/Archives/edgar/data/1785279/000119312524023377/d425213ds1a.htm#toc425213_7

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