CRISPR Therapeutics Secures $38 Million in Series B Financing to Advance CRISPR/Cas9 Gene-Editing Therapies

According to VCBeat, which learned from multiple overseas media outlets,On June 27, Swiss gene-editing startup CRISPR Therapeutics announced the completion of its Series B financing round. To date, the company’s total fundraising has reached $140 million.

In the early stage of this financing round, Vertex Pharmaceuticals and Bayer Global Investments invested as strategic corporate partners. They were subsequently joined by institutional investors and several healthcare-focused funds, including Franklin Templeton Investments, New Leaf Venture Partners, Clough Capital Partners, Wellington Capital Management L.L.P., and other life sciences funds. Guggenheim Securities served as the financial advisor to CRISPR Therapeutics, while Vischer AG and Goodwin Procter acted as legal counsel for the transaction.

CRISPR Therapeutics is a gene-editing company that develops genetic medicines for various diseases through its CRISPR/Cas9 gene-editing platform, researching treatments for conditions such as cystic fibrosis, blindness, blood disorders, and congenital heart disease. CRISPR/Cas9 is a revolutionary technology that enables direct and precise gene editing. The company’s multidisciplinary research team, comprising world-class researchers and drug developers, is leveraging this technology to create therapeutic solutions for a wide range of human diseases. The company’s scientific founder, Emmanuelle Charpentier, holds patents for the CRISPR/Cas9 gene-editing technology and played a key role in its development.

“We are very pleased to bring in these top-tier institutional investors,” said Rodger Novak, CEO of CRISPR Therapeutics, “as well as investments from our strategic partners Vertex and Bayer. We believe this will lay a more solid foundation for CRISPR/Cas9 gene-editing technology, accelerate its clinical translation process, and expand our R&D team in Cambridge, Massachusetts.”

Previously, CRISPR Therapeutics and a research group at the University of Pennsylvania, backed by Novartis, were engaged in a fierce dispute over CAR-T technology for oncology. However, Novartis resolved the conflict through payments and patent royalties. Ultimately, due to the involvement of numerous attorneys, this patent dispute did not impact all CRISPR-Cas9 startups. Novak claimed that the dispute did not affect the pharmaceutical and biotechnology companies collaborating with them, and venture capitalists tended to view the situation more positively.

Caribou Biosciences, Editas ($EDIT), Intellia ($NTLA), Novartis ($NVS), and CRISPR Therapeutics are all world-class companies in the field of CRISPR/Cas9 gene editing. While they are currently at the preclinical trial stage, each is targeting different diseases. These companies are competing to accelerate the transition from preclinical studies to clinical trials.

“CRISPR/Cas9 represents a breakthrough of major significance, leveraging gene-editing technology to uncover the root causes of various diseases. We are delighted to collaborate with our partners at CRISPR Therapeutics from both academia and industry, who have set a highly ambitious goal—bringing CRISPR/Cas9 technology into clinical application,” said a partner of CRISPR Therapeutics.

As early as last October, CRISPR Therapeutics entered into a four-year strategic collaboration agreement with Vertex Pharmaceuticals to develop gene therapies using CRISPR/Cas9 technology. As part of the agreement, Vertex agreed to provide CRISPR Therapeutics with an upfront cash payment of $75 million and a $30 million equity investment.