Elegen raises $35M in Series B financing round

Synthetic DNA maker Elegen said that it has raised $35 million in a Series B financing.

Triatomic Capital led the round, joined by GSK and John Ballantyne, cofounder of Aldevron. Previous investors a16z Bio + Health, KdT Ventures, 8vC, Digitalis Ventures, ACVC Partners, Alix Ventures, AME Cloud Ventures, and Agilent Technologies also participated.

In a statement, Elegen said it would use the funding to extend its production of longer, more complex synthetic DNA for clinical development of genetic medicines.

“Elegen is poised to unlock innovation in genetic medicine with a rapid, turnkey supply of GMP-compliant DNA for research and clinical programs,” Peter Zhou, general partner of Triatomic Capital, said in a statement. “Their technology platform is innovative and differentiated from other DNA synthesis providers, and we look forward to supporting Elegen’s success.” Zhou will join Elegen’s board.

In January, GSK and Elegen signed a collaboration and licensing agreement for GSK’s vaccines and medicines. As part of that deal, GSK said it would provide Elegen up to $35 million in near-term financial support.

This fundraising follows Elegen’s Series A financing round in late 2021 of an undisclosed amount. The firm has also received a $2 million Small Business Innovation Research grant from NHGRI.

Related News