Mammoth Biosciences announced it has completed an oversubscribed Series B round, at $45 million.
The new funding was raised by Decheng Capital, which led the round, with participation from NFX, Mayfield, Verily, Brook Byers, Plum Alley, aMoon and Pacific 8.
The heart of this startup is the creation of the world’s first CRISPR-based disease detection platform. CRISPR could be used for treating disease in the future, with clinical trials for Cas9 already underway. But while this enzyme has shown first signs of success in the ex-vivo setting, challenges remain for in vivo applications, limiting the broad use of Cas9 for a wide field of diseases. Also, Cas9 cannot be used for CRISPR-based diagnostics, an emerging and ground-breaking application for Cas systems.
The newly obtained capital will fuel the company’s further development of CRISPR diagnostics and next-generation CRISPR products as it extends its platform to include gene-editing and therapeutics as well.
In addition to growing its CRISPER platform, South San Francisco based Mammoth is also exploring partnerships with biotech and pharmaceutical companies to leverage the platform to transform healthcare and deliver benefits to patients.