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July - 2016 - issue > Venture Beat

CRISPR Therapeutics Secures an Additional $38 Million as a Part of its Series B

si Team
Thursday, June 30, 2016
si Team
CRISPR Therapeutics, a Basel-based biopharmaceutical company that translates CRISPR/Cas9 gene-editing technology into transformative medicines, secures an additional $38 million and closes its series B. This additional investment brings the total series B financing round to nearly $140 million. Previously, the company has secured $64 million as the first part of its series B investment led by Vertex Pharmaceuticals and Bayer Global Investments, an affiliate of Bayer AG.

This second, oversubscribed closing of the series B financing includes several new institutional investors which include Franklin Templeton Investments and New Leaf Venture Partners. 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.

"We are very pleased to add these top tier institutional investors in the most recent closing of our series B financing. 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," comments Dr. Rodger Novak, CEO of CRISPR Therapeutics.

Emmanuelle Charpentier, Craig Mello, Chad Cowan, Matthew Porteus and Daniel Anderson founded CRISPR Therapeutics in 2013. Today, it is one of the leading gene-editing companies that is focused on the development of transformative gene-based medicines for serious diseases. The Company's multi-disciplinary team of world-class researchers and drug developers is working to translate CRISPR/Cas9 gene-editing technology into breakthrough human therapeutics in a number of serious diseases. In 2014, the company had also raised a $25 million series Around from Versant Ventures.

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