Synthetic DNA manufacturer Elegen announced that it has secured $35 million in a Series B funding round. The round was led by Triatomic Capital, with participation from GSK, John Ballantyne, a co-founder of Aldevron, along with previous investors a16z Bio + Health, KdT Ventures, 8vC, Digitalis Ventures, ACVC Partners, Alix Ventures, AME Cloud Ventures, and Agilent Technologies. The funds will be utilized to extend the production of more complex synthetic DNA for clinical development of genetic medicines. Peter Zhou, General Partner at Triatomic Capital, expressed his enthusiasm in supporting Elegen’s innovative technology platform and will join the company’s board. Earlier this year, Elegen and GSK signed a collaboration and licensing agreement, under which GSK will provide up to $35 million in near-term financial support. Elegen’s previous Series A round in 2021 had an undisclosed amount, and the company has also received a $2 million Small Business Innovation Research grant from NHGRI.
Biotechnology, Private Equity, Healthcare,United States