Singapore-based Biomarker Discovery Firm Engine Biosciences Secures $27M in Series A+ Funding

Source: Precision Medicin Online

Biomarker discovery company Engine Biosciences announced on Tuesday that it has completed a $27 million Series A+ financing round.

Polaris Partners led this round of financing, with participation from new and existing investors including ClavystBio, Invus, EDBI, Coronet Ventures, and SEEDS Capital.

The company said in a statement that it would use the funds to advance its biomarker and target discovery programs into the clinic through internal development, collaborations, and partnerships.

"Polaris Managing Partner Amy Schulman said in a statement: 'We have witnessed the significant progress Engine Biosciences has made since our initial investment, with its technology advancing towards an attractive direction in precision medicine transformation. We are thrilled to lead this strong syndicate of investors in supporting Engine Biosciences to create clinical value by developing therapeutic drugs, biomarkers, and establishing partnerships.'"

Engine Biosciences initially announced in May 2021 that it had secured a $43 million Series A financing round. This additional funding brings the total for the round to $70 million; the company stated that it has raised $86 million to date. The Singapore-based company is building a biological "search platform" called NetMappr, which maps biological networks to uncover gene and molecular interactions critical to diseases. It also offers the CombiGem combinatorial CRISPR screening platform.

While securing funding, ClavystBio's Head of Therapeutics, Wen Qi Ho, also joined the company’s board of directors.

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