Snipr Biome secures $50 million to develop CRISPR-based microbiome drugsPublished: March 13, 2019
Copenhagen-based CRISPR-Cas9 company, SNIPR Biome has raised $50 million in one of the largest Series A financing in Europe, to advance CRISPR-based microbiome drugs to human clinical trials.
Snipr’s technology is designed to selectively and precisely attack disease-causing bacteria, without harming the rest of the microbial community. Called as CRISPR-guided vectors, these next generation of drugs can cause double-stranded breaks in bacterial genome killing them rapidly.
Proceeds from the financing will enable the company to advance the patented technology to clinic and initiate the first clinical programs. The focus initially would be on precision medicines for difficult-to-treat infections and precision microbiome modulation in autoimmunity and cancer.
The financing round was led by existing investor Lundbeckfonden Emerge (Copenhagen) and LSP (Amsterdam), together with North-East Family Office (Copenhagen) and Wellington Partners (Munich).
In the long run, the technology could be used in the food and agriculture industry to target and kill problem-causing bacteria while leaving the good ones intact.
Dr Christian Grøndahl, Co-founder & CEO of Snipr commented: “We have the potential to develop valuable therapeutics within multiple important disease areas. We will focus initially on precision medicines for difficult-to-treat infections and precision microbiome modulation in auto-immunity and cancer. We are utilizing the bacteria’s CRISPR/Cas immune system to selectively kill target bacteria based on specific DNA fingerprints. We are thrilled to have obtained this massive and transformational funding and backing from absolute leading European VCs and investors in Lundbeckfonden Emerge, Life Science Partners, North-East Family Office, and Wellington Partners.”
Source: Snipr raises $50M to use CRISPR to modulate the microbiome; Press Release