News | June 24, 2016
CRISPR Therapeutics Raises Additional $38M as Part of Series B Financing
Funding to Support the Development of its CRISPR/Cas9 Gene-Editing Platform and Programs
BASEL, Switzerland and Cambridge, Massachusetts – CRISPR Therapeutics, a biopharmaceutical company focused on translating CRISPR/Cas9 gene-editing technology into transformative medicines, today announced an additional $38 million closing of its Series B financing. This additional investment brings the total Series B financing round to nearly $140 million. The previous Series B investment was led by Vertex Pharmaceuticals and Bayer Global Investments, an affiliate of Bayer AG, as part of the company’s strategic investment in CRISPR Therapeutics. This second, oversubscribed closing of the Series B financing, includes several new institutional investors and specialized healthcare funds. Participating investors in this round include Franklin Templeton Investments, New Leaf Venture Partners, funds advised by Clough Capital Partners L.P. and Wellington Capital Management L.L.P., and other undisclosed funds specializing in life sciences.
“We are very pleased to add these top tier institutional investors in the most recent closing of our Series B financing,” commented Dr. Rodger Novak, Chief Executive Officer of CRISPR Therapeutics. “Along with the recent investments made by our strategic partners, Vertex and Bayer, we believe this further investment represents a strong validation of our approach to translate the novel CRISPR/Cas9 gene-editing technology into life-changing medicines for patients. We plan to use these proceeds to advance our current and future programs to the clinic and to expand our research and development organization in Cambridge, Massachusetts.”
Guggenheim Securities acted as financial advisor to CRISPR Therapeutics, while Vischer AG and Goodwin Procter acted as legal counsel to CRISPR Therapeutics on this transaction.
About CRISPR Therapeutics
CRISPR Therapeutics is a leading gene-editing company focused on the development of transformative gene-based medicines for serious diseases using its proprietary CRISPR/Cas9 gene-editing platform. CRISPR/Cas9 is a revolutionary technology that allows for precise, directed changes to genomic DNA. The Company’s multi-disciplinary team of world-class researchers and drug developers is working to translate this technology into breakthrough human therapeutics in a number of serious diseases. Additionally, CRISPR Therapeutics has established strategic collaborations with Bayer AG and Vertex Pharmaceuticals to develop CRISPR-based therapeutics in diseases with high unmet need. The foundational CRISPR/Cas9 patent estate for human therapeutic use was licensed from the Company’s scientific founder Emmanuelle Charpentier, Ph.D., who co-invented the application of CRISPR/Cas9 for gene editing. CRISPR Therapeutics is headquartered in Basel, Switzerland with its R&D operations based in Cambridge, Massachusetts. For more information, please visit www.crisprtx.com.
Westwicke Partners for CRISPR Therapeutics
W2O Group for CRISPR Therapeutics