A software company revolutionising the way biologists use CRISPR genome editing technology, has opened a £1.5m investment round via SyndicateRoom.
Desktop Genetics will use the funds to commercialise products and support its expansion into the US. Launched in 2012, the company has developed an industry-leading software platform to design and manufacture CRISPR genome editing reagents, and has developed and refined products which are now ready for launch.
It’s reckoned that the market is estimated to be worth approximately $2.84bn globally and set to grow to more than $6bn by 2021. By then, it is estimated that between 60,000 and 100,000 labs will be using CRISPR technology. Despite this, said the company, over half of all new medicines in development today are likely to never reach patients, often because they are based on flawed science. Desktop believes that the advances in both AI and CRISPR can together help solve this problem by enabling higher confidence in preclinical development programmes.
DTG CEO said: “Desktop Genetics has proven its ability to deliver value to customers, and has established a strong pipeline, with key research milestones hit since the 2015 investment round. This funding round provides a great opportunity as we gear up for further growth, resourcing future initiatives, hiring new team members and launching fresh products.
“We’re excited to open up this opportunity and welcome investors to join us on our path to success. With its extensive experience in the biotech space, SyndicateRoom is the ideal partner to connect us to those investors.”
Jonathan Milner, lead investor in Desktop Genetics, and Co-Founder and Deputy Chairman of Abcam plc, added: “Desktop Genetics’ management team has established a lucrative niche in the industry, which has seen the company make a real impact for researchers working with CRISPR technology. I am pleased to be leading this next round of investment and look forward to helping guide the next stage of the company’s growth.”
Tom Britton, CTO and Co-founder, SyndicateRoom, commented: “Desktop Genetics’ use of AI in customising CRISPR Libraries is enabling more efficient drug discovery, genomics and cell therapy – which is a massive step towards the reality of genomic medicine. We’re pleased to welcome the Desktop Genetics team to the SyndicateRoom platform as yet another young British business doing great things in a bid to make the world a better place.”