Oversubscribed round to bring first products powered by enzymatic DNA
synthesis technology to market
PARIS–(BUSINESS WIRE)–Sofinnova Partners, a leading European venture capital firm specialized
in the life sciences, today announced that its portfolio company DNA
Script, an industry leader in the manufacturing of synthetic nucleic
acids using proprietary enzymatic technology, has raised $38.5 million
in Series B financing. New shareholders LSP and BPIFrance joined the
round, alongside existing shareholders Kurma Partners, Idinvest
Partners, Illumina Ventures, and M Ventures (the corporate venture arm
of Merck KGaA). Sofinnova Partners was the first institutional investor
in DNA Script in 2016.
DNA Script is the world’s leading company in manufacturing synthetic
nucleic acids using enzymatic technology. Founded in 2014 in Paris, the
company aims to accelerate innovation in life sciences and technology
delivering rapid, affordable, and high-quality DNA. Sixty years after
the discovery of DNA, DNA Script’s revolutionary approach leverages
billions of years of nature’s evolution in synthesizing DNA to enable
genome scale synthesis.
The company offers a novel biochemical process for DNA and RNA
synthesis, a fundamental tool used in biology research. At a recent
academic conference, DNA Script presented its ability to synthesize
200nt of DNA with remarkable accuracy. This innovation may be used in
numerous applications, including electronic data storage, by leveraging
unprecedented capabilities of the molecule to store information. The
fundraising allows DNA Script to further develop its unique enzymatic
technology and nucleotide chemistry platform, and deliver the promise of
same-day results.
Joško Bobanović, Partner at Sofinnova Partners, said: “We are excited
that DNA Script, which we have backed from its first round of financing,
was able to raise such a significant round. The company continues to
deliver on its plan, and is now funded by a group of likeminded
investors who support the team’s vision of creating a business that
enables new applications for synthetic DNA and RNA in areas including
drug discovery and development, agriculture, and industrial and food
technologies.”
“Sofinnova Partners has been an excellent partner from a very early
stage, just after the inception of our company,” said Thomas Ybert, CEO
of DNA Script. “Since then, they have helped us on a daily basis to
build DNA Script from the ground up. The team brings a strong expertise
in the technology as well as one of the broadest global networks in the
industry. Importantly, they also provide unconditional support and
coaching to our entrepreneurs – whatever the challenge at hand,” he said.
This new funding reaffirms Sofinnova Partners’ investment strategy in
the industrial biotech field, initiated in 2009. As a pioneer in this
emerging and rapidly growing sector, Sofinnova Partners has a portfolio
of 14 industrial biotech companies, backed through two dedicated funds:
Sofinnova Green Seed Fund, which raised €22.5M in 2012, and Sofinnova IB
I, which raised €125M in 2017.
About DNA Script
Founded in 2014 in Paris, DNA Script is the world’s leading company in
manufacturing de novo synthetic nucleic acids using an enzymatic
technology. The company aims to accelerate innovation in life sciences
and technology through rapid, affordable and high-quality DNA synthesis.
DNA Script’s approach leverages billions of years of natural evolution
to enable genome-scale synthesis. The company’s technology has the
potential to greatly accelerate the development of new therapeutics,
enhanced diagnostics, sustainable chemical production, improved crops
and DNA data storage.
About Sofinnova Partners
Sofinnova Partners is a leading European venture capital firm
specialized in Life Sciences. Based in Paris, France, the firm brings
together a team of professionals from all over Europe, the U.S. and
China. The firm focuses on paradigm shifting technologies alongside
visionary entrepreneurs. Sofinnova Partners seeks to invest as a lead or
cornerstone investor in seed, start-ups, corporate spin-offs and late
stage companies. It has backed nearly 500 companies over more than 45
years, creating market leaders around the globe. Today, Sofinnova
Partners has over €1.9 billion under management. For more information: http://sofinnovapartners.com/.
Contacts
Kate Barrette
RooneyPartners LLC
[email protected]
(212)
223-0561
