Trucode Gene Repair Secures $34 Million to Advance Triple-Helix Gene Editing Platform

On September 17, 2019, VCBeat (WeChat ID: vcbeat) learned from foreign media reports that biotechnology company Trucode Gene Repair (Trucode) announced the completion of a $34 million financing round (the specific round was not disclosed). The investors in this round were Kleiner Perkins and GV.

Trucode will utilize the funds from this round of financing to further advance the research and development of its triple gene-editing technology.

Headquartered in California, USA, Trucode is a biotechnology company with extensive expertise in oligomer chemistry, gene editing, and therapeutic drug development. The company is dedicated to developing transformative scientific technologies to improve patients’ lives.

Trucode’s Bay Area-based triple-layer gene editing technology employs proprietary synthetic peptide nucleic acid (PNA) oligomers and DNA correction sequences to edit disease-causing mutant genes by leveraging natural DNA repair mechanisms. Unlike current CRISPR-based gene editing technologies, Trucode’s triple-layer approach does not induce double-strand breaks, a common outcome with CRISPR and other nuclease-based editing methods. Furthermore, Trucode states that its technology enables intravenous administration without the need for viral vectors.

Trucode was co-founded by scientific veterans Marshall Fordyce and Beth Seidenberg. The company has since recruited numerous industry veterans. Its R&D program is led by Chief Scientific Officer Allen Ebens, who brings over 20 years of industry experience from companies such as Genentech and Juno. Lauren Frenz oversees corporate strategy and finance, leveraging a decade of experience in business, finance, and strategic planning at Gilead Sciences and SVB Leerink. The company’s industry advisors include Jim Coull, who has more than 25 years of experience in the PNA chemistry sector, and Susan K. Whoriskey, who served on the founding executive teams of Cubist Pharmaceuticals, Momenta Pharmaceuticals, and Moderna.

Marshall Fordyce stated, “Although gene-editing technologies for treating genetic diseases already exist, they have not yet brought about a complete transformation. Our technology addresses key challenges facing the industry, including editing fidelity, immune responses, delivery, scalable manufacturing, and intellectual property.”

“Patients with genetic disorders have high hopes for gene-editing technology. Trucode’s new platform is fundamentally different from first-generation technologies and will bring transformative change to the entire industry,” said Beth Seidenberg.

Marshall Fordyce added, “In a short period of time, we have built a strong team of experienced biotechnology professionals with deep expertise in drug development. Trucode is now well-positioned to fully explore and develop next-generation gene-editing therapies to improve patients’ lives and health outcomes.”

Kleiner Perkins, founded in 1972 and headquartered in Menlo Park, United States, is a venture capital firm focused on the technology and life sciences sectors. The company was an early investor in many major corporations, including Amazon, AOL, Compaq, Electronic Arts, Google, Intuit, Macromedia, Netscape, Segway, and Sun Microsystems.

GV, established in 2008 and headquartered in California, USA, is the investment arm of Google. Leveraging its strengths, Google aims to focus on early-stage investments across multiple industries, including internet, software, clean technology, biotechnology, and healthcare.

(Compiled by Hu Yifan)