Gene control company Concinnity Genetics, recently spun out of the University of Edinburgh, has raised £3 million in an oversubscribed seed funding round that included Old College Capital (OCC), the university’s in-house venture investment fund.
The investment round was led by St Andrews-based Eos Advisory with participation from Scottish Enterprise, OCC and Maven Capital Partners.
Co-founded by bioengineers CEO Jessica Birt and CSO Dr Matthew Dale, both from Professor Susan Rosser’s UK Centre for Mammalian Synthetic Biology, Concinnity uses unique AI technology to build gene control systems that improve the safety of gene therapies.
The seed funding round will be used to initiate three new programmes developing control systems targeted at key applications within the cell and gene therapy market, as well as continuing to develop Concinnity’s existing control systems with the aim of obtaining critical data to initiate partnerships with customers.
Twice winners at Scotland’s innovation competition Converge Challenge, Birt and Dale were supported to form the company by Edinburgh Innovations (EI) and benefitted from two years as part of Scottish Enterprise’s High Growth Spinout Programme.
Birt said: “We are so excited to be taking the next step in our spin-out journey and want to sincerely thank all the investors and supporters who have helped us make it happen. Our ambition is to be the go-to partner for gene control to make gene and cell therapies as safe as possible.
“This commitment from our investors, building on the ongoing support from Scottish Enterprise, speaks to the potential they see in our work, and we look forward to using the funding to further develop our technology. ”
Edinburgh Innovations CEO Andrea Taylor said: “Engineering biology is a major strength of the University of Edinburgh, catalysing novel solutions across our three mission areas of future health and care, data and AI for good and climate and sustainability.
“Sophisticated gene control systems have the potential to revolutionise advanced therapeutics, enabling new kinds of treatments that will impact future health. We are proud to continue to support Concinnity Genetics on their translational journey from lab to clinic. ”