Bioinformatics company Synthego has received $110 million by Venture Capitalist firms Menlo Ventures, 8VC and Founders Fund. Synthego’s mission is quite clear. The company wants to provide gene editing tools to everyone irrespective of the cost.
Synthego aims to bring gene editing tools to the masses in a way. The genetics company wants their gene editing tools to become widely available to researchers, scientists, and medical technology firms.
Synthego envisions a future where the code of life can be edited easily.
Paul Dabrowski, the co-founder, and CEO of the company said, “People talk about access to the tools, but the question is access to the therapies. We’re talking about the basis of what does it mean to be human not right now, but in the next 100 years.”
Dabrowski further said, “This new funding allows us to expand our reach and build out of our full stack platform capabilities at a perfect time. Biological medicines are on the cusp of a revolution with the coming curative cell and gene therapies, and we are proud to support this industry.”
The company’s main two goals at the moment are to firstly create CRISPR kits as per clients’ requirements and secondly manufacture materials that are safe for clinical trials on animals and potentially on humans.
The custom-made CRISPR kits will be groundbreaking as they will allow scientists and researchers to experiment with genetic code that is specific to their needs.
The investment will help Synthego check these two objectives off their list. Rest of the money will be used in Research and Development and for developing new products.
All of this research and investment will be used to further advance the field of genetics, and CRISPR technology as well. The Redwood City, California based company has managed to successfully raise approximately $166 million in funding.
The money will make CRISPR research more efficient and quick. As CRISPR becomes more advanced, genetic research will become more economically feasible. Synthego will be able to cut down research time by months which can potentially save millions of dollars.
The first line of Synthego’s products was created to streamline the recognition of genetic compounds and for the development of genetic compounds. This was done to provide a platform for experimentation.
The next set of tools will be used by researchers and bioengineers so they can test and perform experiments on the genetic material provided to them by Synthego.
CRISPR enables genes or functions to be removed or added.