Total amount raised
$581.8 Millions
Latest funding date
12/01/2024
Location
Tessera Therapeutics has successfully raised significant funding over multiple rounds, attracting notable investors such as the Bill & Melinda Gates Foundation and Longevity Vision Fund. The company is pioneering Gene Writing™ technology, which aims to make permanent therapeutic alterations to the human genome.
Keep reading to explore the intricacies of Tessera Therapeutics' fundraising journey and the investors backing this innovative platform.
What Is Tessera Therapeutics?
Tessera Therapeutics, founded in 2018, is a biotechnology company based in Cambridge, Massachusetts. The company was established by Geoffrey von Maltzahn, Jacob Rubens, and Noubar Afeyan. It operates within the biopharma, biotechnology, genetics, life science, and therapeutics industries.
With an employee count ranging from 251 to 500, Tessera Therapeutics is pioneering Gene Writing™ technology. This innovative platform aims to make permanent therapeutic alterations to the human genome, offering the potential to cure diseases at their source. The company is a Flagship Pioneering entity, focusing on developing versatile technology platforms and tissue-targeted non-viral delivery methods.
How Much Funding Has Tessera Therapeutics Raised?
- Seed Round
- Amount Raised: $2.7M
- Date: May 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish the company and develop initial Gene Writing™ technology.
- Series B
- Amount Raised: $230M
- Date: January 2021
- Lead Investors: Alaska Permanent Fund, SoftBank Vision Fund
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To advance the development of Gene Writing™ technology and expand research capabilities.
- Series C
- Amount Raised: $300M
- Date: April 2022
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the development and realization of Gene Writing™ technology for curing genetic diseases.
- Venture Round
- Amount Raised: $50M
- Date: December 2024
- Lead Investors: Bill & Melinda Gates Foundation
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop and commercialize Gene Writing™ technology.
Total Amount Raised: $582.7M. Current Valuation: Not publicly disclosed.
Key Investors
- Bill & Melinda Gates Foundation
- Details: The Bill & Melinda Gates Foundation is a private foundation founded by Bill and Melinda Gates. It focuses on enhancing healthcare and reducing extreme poverty globally.
- Investment Focus Areas: Global health, education, poverty alleviation.
- Notable Investments: Gavi, the Vaccine Alliance, Global Fund to Fight AIDS, Tuberculosis and Malaria, Tessera Therapeutics.
- Alaska Permanent Fund Corporation
- Details: The Alaska Permanent Fund Corporation manages the assets of the Alaska Permanent Fund, a state-owned investment fund established to benefit the residents of Alaska.
- Investment Focus Areas: Public and private equities, real estate, infrastructure.
- Notable Investments: Not publicly disclosed.
- SoftBank Vision Fund
- Details: SoftBank Vision Fund is a venture capital fund managed by SoftBank Investment Advisers, focusing on technology investments globally.
- Investment Focus Areas: AI, robotics, IoT.
- Notable Investments: Uber, WeWork, ByteDance.
- Flagship Pioneering
- Details: Flagship Pioneering is a venture capital firm that creates and funds early-stage life sciences companies, focusing on transformative innovations.
- Investment Focus Areas: Life sciences, biotechnology, healthcare innovation.
- Notable Investments: Moderna, Seres Therapeutics, Indigo Agriculture.
- Longevity Vision Fund
- Details: Longevity Vision Fund is a venture capital firm focused on investing in technologies that extend human lifespan and improve healthspan.
- Investment Focus Areas: Longevity, life extension technologies.
- Notable Investments: Not publicly disclosed.
What's Next for Tessera Therapeutics?
Tessera Therapeutics stands on the brink of revolutionizing genetic medicine with its Gene Writing™ technology. The potential to cure nearly any genetic disease and create life-changing medicines for serious conditions like cancer presents immense opportunities. As the company continues to develop and commercialize this groundbreaking technology, the scope for growth is vast, promising to establish a new modality in human healthcare.
Future fundraising opportunities appear promising, given the successful Series C round and the involvement of high-profile investors. This financial backing will likely attract further investment, enabling Tessera to expand its research and development efforts. However, the company may face challenges such as technical and scientific hurdles, regulatory approvals, and competition from other genetic medicine technologies.
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