Editas Medicine, a leading genome editing company, today announced that it has raised $120 million in a highly oversubscribed Series B private financing. The financing assembles a broad syndicate of leading public and private investors who underpin many of the most innovative biopharmaceutical and technology companies.
Editas is translating the promise of CRISPR/Cas9 technology into a new class of transformative genomic medicines to treat a broad range of diseases by enabling precise and corrective molecular modifications to treat disease at the genetic level. “With this financing, we have a strong foundation from which we can broadly develop our genome editing platform and advance multiple new therapies toward clinical trials,” said Katrine Bosley, CEO, Editas Medicine. “We are grateful for such strong support from so many high-quality investors who share our vision to translate this powerful science into transformative medicines.”
The new investor syndicate was led by Boris Nikolic, M.D., managing director of bng0, a U.S.-based investment company that was formed to invest exclusively in Editas Medicine and includes a select group of large family offices with a global presence and long-term investment horizon. Additional new investors include Deerfield Management, Viking Global Investors, Fidelity Management & Research Company, funds and accounts managed by T. Rowe Price Associates, Inc., Google Ventures, Jennison Associates on behalf of certain clients, Khosla Ventures, EcoR1 Capital, Casdin Capital, Omega Funds, Cowen Private Investments and Alexandria Venture Investments. The Company’s founding investors, Flagship Ventures, Polaris Partners and Third Rock Ventures, as well as Partners Innovation Fund, also participated in this financing. In conjunction with the financing, Dr. Nikolic has joined the Editas Medicine board of directors. “Editas Medicine has made great strides in the development of CRISPR/Cas9 technology,” said Dr. Nikolic. “The company is at the forefront of genome editing – one of the most exciting and important frontiers in science. I look forward to joining the board of directors and contributing to the team’s continued growth and success.”
The financing follows the appointment last month of Andrew Hack, M.D., Ph.D., as chief financial officer. Dr. Hack brings to Editas a deep understanding of capital markets, strong relationships across the financial community and more than a decade of experience analyzing the successes and failures of biopharmaceutical companies. Dr. Hack joins Editas from Millennium Management, where, as portfolio manager, he ran a healthcare fund focused on biotechnology, pharmaceutical, and medical device companies. Before joining Millennium, Dr. Hack was a healthcare analyst at HealthCor Management, Carlyle-Blue Wave Partners and the MPM BioEquities Fund. While at Carlyle-Blue Wave, Dr. Hack was named one of the Rising Stars of Hedge Funds by Institutional Investor. He started his investment career covering the biotechnology sector at Bank of America. Before going to work on Wall Street, Dr. Hack co-founded Reify Corporation, a life science tools and drug discovery company.