Four years ago, the protein called CRISPR-Cas9, an enzyme that bacteria use to attack viruses that infect them, was unknown to humans. Now it is ubiquitous in science labs as the most efficient way of cutting-and-pasting DNA yet invented. Wired Magazine, in a breathless cover story, just called it “The Genesis Engine,” instructing readers to “buckle up” because the easy DNA editing CRISPR enables will change the world. And now at least one CRISPR-focused company has the cash to back up the hype.
Editas Medicine, based in Cambridge, Mass., already had money. Founded in November 2013 with $43 million from Third Rock Ventures, Polaris Ventures and Flagship Ventures, it was the first big CRISPR effort out of the gate. The company says that money has not been spent. In May, Juno Therapeutics, which is developing cell therapies for cancer, inked a collaboration that gave Editas $25 million upfront and another $22 million in research support. Any products that result could deliver Editas another $250 million.
But those investments are dwarfed by today’s announcement, which will put $120 million into the tiny company’s bank account – enough, Editas says, to keep it running for a projected three years. The lead investor is a newly created firm called bng0, a select group of family offices led by Boris Nikolic, who was previously a science advisor to Bill Gates. Both Editas and Gates’ office confirm that the Microsoft MSFT -0.06% billionaire, who is the world’s richest man, is among the bng0 backers.
Also included in the $120 million funding round (take a deep breath): Deerfield Management, Viking Global Investors, Fidelity Management & Research Company, funds and accounts managed by T. Rowe Price Associates, Inc., Google Ventures, Jennison Associates on behalf of certain clients, Khosla Ventures, EcoR1 Capital, Casdin Capital, Omega Funds, Cowen Private Investments and Alexandria Venture Investments.
It’s a big leap for a technology that has yet to even be tried in patients – especially since the intellectual property landscape around CRISPR-Cas9 is treacherous. Jennifer Doudna and Emmanuel Charpentier published the first paper detailing how to use the enzyme to cut DNA. They filed for a patent for using it to edit the DNA of cells with nuclei – like those of plants, animals, and people – too. But Feng Zhang of the Broad Institute filed a separate patent on using it in cells with nuclei, and it was granted first.






