BASEL, Switzerland & CAMBRIDGE, Mass.--(BUSINESS WIRE)--CRISPR Therapeutics, a biopharmaceutical company focused on translating CRISPR-Cas9 gene-editing technology into transformative medicines, today announced the closing of a Series A and Series B financing totaling USD 89 million, including USD 35 million of new funding in the Series A and USD 29 million in the Series B. The oversubscribed Series A and Series B financings were led by strategic investors, SR One and Celgene Corporation, respectively, and included new investors New Enterprise Associates (NEA) and Abingworth, alongside the Company's founding investor, Versant Ventures.
CRISPR Therapeutics has also announced changes to its Board of Directors. Simeon George, SR One, Ali Behbahani, NEA, and Kurt von Emster, Abingworth, will be joining Brad Bolzon, Tom Woiwode, and Chief Executive Officer, Rodger Novak.
"We are very excited to have such a group of top tier institutional and strategic investors join us in writing the next chapter of CRISPR Therapeutics," commented Dr. Rodger Novak. "This additional significant investment signals a strong commitment and validation of our approach to rapidly translate the novel gene-editing technology CRISPR-Cas9 into life-changing medicines for patients. We will be using these proceeds to advance our current and future programs toward the clinic and to expand our research and development organization in Cambridge, Massachusetts."
"CRISPR-Cas9 is a fundamental breakthrough that enables us to address the root cause of multiple diseases through gene-editing," commented Simeon George of SR One. "We are excited to be part of the very talented team from academia and industry at CRISPR Therapeutics, as they embark on a very compelling mission to transform patient care by bringing CRISPR-Cas9 into the clinic."
"We welcome Simeon, Kurt, and Ali to the Board of Directors and are looking forward to working effectively together as a strong team in support of CRISPR Therapeutics," commented Brad Bolzon, Chairman of the Board.
About Versant Ventures, SR One, Celgene, NEA, and Abingworth
Versant Ventures is a leading healthcare investment firm committed to helping exceptional entrepreneurs build the next generation of great healthcare companies. The firm invests across the healthcare sector and at all stages of company development, with an emphasis on the discovery and development of novel therapeutics. With $1.9 billion under management and offices in North America and Europe, Versant has built a team with deep investment, operating, and scientific expertise that enables a hands-on approach to company building. Since the firm's founding in 1999, nearly 40 Versant companies have achieved successful acquisitions or IPOs. For more information, please visit www.versantventures.com.
SR One is the independent corporate venture capital arm of GlaxoSmithKline. The firm invests globally in emerging life science companies that are pursuing innovative science, which will significantly impact medical care. Since 1985, SR One has invested in more than 165 companies, and its current portfolio includes over 35 private and public companies. www.srone.com
Celgene Corporation, headquartered in Summit, New Jersey, is an integrated global biopharmaceutical company engaged primarily in the discovery, development and commercialization of innovative therapies for the treatment of cancer and inflammatory diseases through gene and protein regulation. For more information, please visit www.celgene.com. Follow Celgene on Social Media: Pinterest, LinkedIn and YouTube.
New Enterprise Associates, Inc. (NEA) is a global venture capital firm focused on helping entrepreneurs build transformational businesses across multiple stages, sectors and geographies. With nearly $17 billion in cumulative committed capital since inception, NEA invests in technology and healthcare companies at all stages in a company's lifecycle, from seed stage through IPO. The firm's long track record of successful investing includes more than 200 portfolio company IPOs and more than 320 acquisitions. www.nea.com
Abingworth is an international investment group dedicated exclusively to the life sciences and healthcare sectors. The firm invests across all stages of company development including early and late-stage private deals, VIPEs (Venture Investments in Public Equities) venture growth and public companies. Founded in 1973, Abingworth has a lengthy track record of building market leading companies. Abingworth has funds under management of over $1.25 billion and offices in London, Menlo Park (California) and Boston. www.abingworth.com
About CRISPR Therapeutics
CRISPR Therapeutics is a biopharmaceutical company created to translate CRISPR-Cas9, a breakthrough gene-editing technology, into transformative medicines for serious human diseases. We have undertaken translational development programs in several important disease areas with our collaborators in Europe and the U.S. and we maintain operations in Basel, Switzerland, Stevenage, UK and Cambridge, Massachusetts, USA. Our vision is to cure serious human diseases at the molecular level using CRISPR-Cas9. www.crisprtx.com