Total amount raised
$120 Millions
Latest funding date
Location
Scribe Therapeutics has successfully raised funds through multiple rounds, with the latest being a Convertible Note round closed on May 16, 2023. The company is backed by 10 investors, including Prevail Therapeutics and Wellington Management.
Keep reading to explore the intricacies of Scribe Therapeutics' fundraising journey and the investors supporting their innovative CRISPR-based genetic medicines.
What Is Scribe Therapeutics?
Scribe Therapeutics, founded in 2017, is a biotechnology company based in Alameda, California. The company specializes in developing CRISPR-based genetic medicines, aiming to transform health outcomes through precision molecular engineering.
Founded by Benjamin Oakes, Brett Staahl, David F. Savage, and Jennifer Doudna, Scribe Therapeutics employs between 101 and 250 people. The company focuses on creating highly engineered CRISPR enzymes known as X-Editing (XE) molecules, which offer greater efficacy, specificity, and deliverability compared to existing CRISPR technologies.
How Much Funding Has Scribe Therapeutics Raised?
- Series A
- Amount Raised: $20M
- Date: January 2018
- Lead Investors: Andreessen Horowitz
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop and engineer new CRISPR-based therapeutics.
- Series B
- Amount Raised: $100M
- Date: March 2021
- Lead Investors: Avoro Capital Advisors, Avoro Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the 'CRISPR by Design' platform and pipeline of breakthrough genetic medicines.
- Convertible Note
- Amount Raised: Not publicly disclosed
- Date: May 2023
- Lead Investors: Prevail Therapeutics
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To advance CRISPR-based epigenetic editing technologies and shift focus to clinical trials.
Total Amount Raised: $120M
Current Valuation: Not publicly disclosed
Key Investors
- Prevail Therapeutics
- Details: Prevail Therapeutics is a biotechnology company focused on developing gene therapies for neurodegenerative diseases. They aim to address the underlying causes of these conditions through innovative genetic treatments.
- Investment Focus Areas: Gene therapies, neurodegenerative diseases, biotechnology.
- Notable Investments: Focuses on its own gene therapy programs.
- Avoro Capital Advisors
- Details: Avoro Capital Advisors is an investment firm specializing in healthcare and life sciences. They provide capital to companies that are at the forefront of medical innovation.
- Investment Focus Areas: Healthcare, life sciences, biotechnology.
- Notable Investments: Moderna, BioNTech.
- Avoro Ventures
- Details: Avoro Ventures is a venture capital firm that invests in early-stage healthcare companies. They focus on supporting startups that have the potential to make significant advancements in medical science.
- Investment Focus Areas: Early-stage healthcare, biotechnology, medical startups.
- Notable Investments: Investments in early-stage healthcare startups.
- Andreessen Horowitz
- Details: Andreessen Horowitz is a venture capital firm that invests in technology companies across various stages. They are known for backing some of the most successful tech startups in the world.
- Investment Focus Areas: Technology, software, internet services.
- Notable Investments: Facebook, Airbnb, Lyft.
What's Next for Scribe Therapeutics?
Scribe Therapeutics stands at the cusp of significant opportunities with their 'CRISPR by Design' platform, poised to revolutionize genetic medicine. The $100 million Series B financing underscores the vast potential for developing breakthrough genetic therapies and expanding their pipeline. This financial backing sets the stage for future fundraising rounds, potentially attracting more investors as the company progresses.
However, the path forward is not without challenges. Regulatory hurdles and competition in the CRISPR space could pose significant obstacles. Yet, with strategic collaborations and continued innovation, Scribe Therapeutics is well-positioned to navigate these challenges and achieve substantial growth in the biotechnology industry.
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