Total amount raised
$120 Million
Latest funding date
05/01/2023
Location
Scribe Therapeutics has successfully raised funds through three funding rounds, with the latest being a convertible note led by Prevail Therapeutics. The company is backed by ten investors, including Wellington Management.
Keep reading to explore the intricacies of Scribe Therapeutics' fundraising journey and the investors backing this innovative biotech company.
What Is Scribe Therapeutics?
Scribe Therapeutics is a biotechnology company based in Alameda, California, specializing in developing CRISPR-based genetic medicines. The company aims to transform health outcomes by engineering safe and effective therapeutics that can alter genetic predispositions and improve health risks.
Founded by Benjamin Oakes, Scribe Therapeutics employs between 51-100 people. The company is involved in creating advanced gene-editing technologies to address various medical conditions and collaborates with leading pharmaceutical companies to broaden its therapeutic applications.
How Much Funding Has Scribe Therapeutics Raised?
- Series A
- Amount Raised: USD 20,000,000
- Date: January 2018
- Lead Investors: Andreessen Horowitz
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the development of their CRISPR-based genetic medicines.
- Series B
- Amount Raised: USD 100,000,000
- Date: March 2021
- Lead Investors: Avoro Capital Advisors, Avoro Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the 'CRISPR by Design' platform and pipeline of breakthrough genetic medicines.
- Convertible Note
- Amount Raised: Not publicly disclosed
- Date: May 2023
- Lead Investors: Prevail Therapeutics
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To secure additional funding for ongoing research and development.
Total Amount Raised: USD 120,000,000. Current Valuation: Not publicly disclosed.
Key Investors
- Prevail Therapeutics
- Details: Prevail Therapeutics is a biotechnology company focused on developing gene therapies for neurodegenerative diseases. They aim to slow or stop the progression of these diseases by addressing their underlying genetic causes.
- Investment Focus Areas: Biotechnology, Gene Therapy, Neurodegenerative Diseases
- Notable Investments: Scribe Therapeutics (Convertible Note)
- Avoro Capital Advisors
- Details: Avoro Capital Advisors is an investment firm specializing in the healthcare sector. They provide capital to companies developing innovative medical treatments and technologies.
- Investment Focus Areas: Healthcare, Biotechnology, Pharmaceuticals
- Notable Investments: Scribe Therapeutics (Series B)
- Avoro Ventures
- Details: Avoro Ventures is a venture capital firm that invests in early-stage healthcare companies. They focus on supporting startups with the potential to make significant advancements in medical science.
- Investment Focus Areas: Healthcare, Biotechnology, Medical Devices
- Notable Investments: Scribe Therapeutics (Series B)
- Andreessen Horowitz
- Details: Andreessen Horowitz is a private venture capital firm based in Silicon Valley. They invest in technology companies across various stages, from seed to growth.
- Investment Focus Areas: Technology, Biotechnology, Software
- Notable Investments: Facebook, Airbnb, Scribe Therapeutics (Series A)
- Wellington Management
- Details: Wellington Management is a global investment management firm. They offer a broad range of investment solutions to clients worldwide, including mutual funds and institutional portfolios.
- Investment Focus Areas: Equities, Fixed Income, Alternatives
- Notable Investments: Moderna, Scribe Therapeutics
What's Next for Scribe Therapeutics?
With the recent $100 million Series B financing, Scribe Therapeutics is poised to expand its 'CRISPR by Design' platform, aiming to develop best-in-class in vivo therapies. This significant investment underscores the vast potential in treating a wide range of genetic diseases, positioning Scribe at the forefront of the biotechnology industry.
Future fundraising opportunities appear promising, as the successful Series B round sets a strong precedent. Continued advancements and strategic partnerships could attract further investment, propelling the company towards new milestones. However, Scribe may face challenges such as regulatory hurdles and competition in the rapidly evolving field of genetic medicine.
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