Broken String Biosciences, a Cambridge, UK-based genomics company building a technology platform to drive the development of cell and gene therapies that are safer by design, closed a $15 million Series A funding.
SaaS Investors
The round was co-led by Illumina Ventures and Mérieux Equity Partners, with contributions from HERAN Partners, and existing investors Tencent and Dieter von Holtzbrinck Ventures (DvH Ventures).
Founded in 2016, Illumina Ventures is a venture capital firm based in Foster City, California. The firm prefers to invest in seed-stage, early-stage, and later-stage companies. The firm seeks to invest in healthcare, clinical diagnostics, therapeutics, and life sciences tools sectors in the United States, Europe, and Asia.
Mérieux Equity Partners is a private equity investment firm that prefers to invest in the biotechnology, life sciences, nutrition, and healthcare sectors. The firm prefers to invest in companies operating in Europe and North America. Founded in 2009 and is based in Lyon, France.
As part of the round, Yoann Bonnamour, Mérieux Equity Partners, and Arnaud Autret, Illumina Ventures, join the Company’s Board of Directors.
Broken String Use of Funds
The company will use the funding to its next-generation sequencing-based DNA break mapping platform, INDUCE-seq™, into a scalable ‘Platform as a Service’ (PaaS) offering and to expand its capabilities beyond gene editing, broadening its go-to-market strategy and driving commercial traction.
The investment also supports the Company’s ongoing growth, including recruitment for its UK team based at the Wellcome Genome Campus, Cambridge, and the establishment of a US office.
About Broken String Biosciences
Broken String Biosciences is building a technology platform that accelerates the characterization of novel genome editing technologies. The company has created the INDUCE-seq platform, which leverages next-generation sequencing technology and allows researchers to assess the specificity of genome editing tools and evaluate potential off-target genetic outcomes. The platform technology provides in situ off-target measurements in clinically relevant cells to accelerate the progression of cell and gene therapy programs. The company’s vision is a future where cell and gene therapies are safer, more efficient, and affordable for patients.
Funding Details
Company: Broken String Biosciences, Ltd.
Raised: $15.0M
Round: Series A
Funding Month: September 2023
Lead Investors: Illumina Ventures and Mérieux Equity Partners
Additional Investors:
Company Website: https://www.brokenstringbio.com/
Software Category: Sequencing-based DNA Breaking Mapping Platform
Source: https://www.brokenstringbio.com/broken-string-biosciences-closes-15m-series-a-funding-round/