Serial entrepreneur Kevin Ness has raised $260 million for Inscripta to get his genome-editing device into the hands of every scientist who wants one.
... [+]Kevin Ness has made a career of building tools for biologists. Now with the burgeoning field of synthetic biology booming, he’s ramping up his latest venture,which wants to get a genome-engineering device into the hands of every scientist who wants one. The company has been operating largely under the radar, but with the announcement today that it had raised $125 million led by Paladin Capital Group, for total funding of $260 million, it’s ready to make its mark.
“We could sell the platform for $1 million, but that doesn’t fulfill our charter of enabling the bioeconomy,” says Jason Gammack, Inscripta’s chief commercial officer. “We believe that biology is going to change the ways we live in ways we don’t comprehend.” These are exciting times for the emerging field of synthetic biology. Spurred on by technological and economic advances, particularly the plummeting cost of DNA sequencing and the development of a precision gene-editing tool called Crispr, entrepreneurs have been falling over themselves to start companies.
Ness, 42, has been able to raise so much money for Inscripta because of his successful history as a biotech entrepreneur. He has a Ph.D. in mechanical engineering from Stanford University, and worked as a research scientist at Lawrence Livermore National Laboratory earlier in his career. Then, he cofounded two successful biotech companies, 10X Genomics, which
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