Sofinnova Partners Announces DNA Script’ Successful Series A Fundraising of €11 M to Advance Development of Its DNA Synthesis Technology
Sofinnova Partners, a leading European venture capital firm specialized in Life Sciences, today announced that portfolio company DNA Script, an industry leader in the manufacture of de novo synthetic nucleic acids using proprietary enzymatic technology, has raised €11 million. Sofinnova Partners is DNA Script’s historic and leading shareholder. Alongside existing shareholders which seeded the company, Sofinnova Partners, Kurma Partners, and Idinvest Partners, new high profile investors join the company for this Series A financing round: Illumina Ventures, and Merck Ventures BV (known as M Ventures in the United States and Canada), the corporate venture arm of Merck KGaA.
Founded in 2014 in Paris (France), DNA Script is the world’s leading company in the manufacturing of de novo synthetic nucleic acids using an enzymatic technology. The company aims at accelerating innovation in life sciences and technology through rapid, affordable, and high-quality DNA synthesis. Sixty years after the discovery of DNA, DNA Script has developed a revolutionary approach that leverages nature's billions of years of evolution in synthesizing DNA to enable genome scale synthesis. The company introduces a novel biochemical process for DNA and RNA synthesis, a fundamental tool used in biology research. DNA Script’s innovation may be used in numerous technologies, such as for instance in the field of electronics for data storage by leveraging unprecedented capabilities of the molecule to store information.
Funds raised will allow DNA Script to strengthen its unique enzymatic technology and nucleotide chemistry platform in order to manufacture high quality oligonucleotides faster, cleaner and more affordably than current market standards.
Joško Bobanović, Partner at Sofinnova Partners, said: “We are excited that DNA Script, which we back since its seed funding, was able to raise such a significant financing. The company is funded by a group of investors who share a collective vision of creating a standalone business that will enable new applications for synthetic DNA and RNA in drug discovery and development, industrial and food technologies”.
Thomas Ybert, PhD, DNA Script Co-founder and CEO, added: “With the success of this financial round, that brings together internationally renowned investors, DNA Script reaches a new stage of its development. It confirms investors’ confidence in the team’s ability to accelerate technical development, identify new markets and business models, and attract interest from major global players”.
This new funding reinforces Sofinnova Partners’ investment strategy in the industrial biotech field initiated in 2009. Being a pioneer investor in this emerging and rapidly growing field, Sofinnova Partners has a current portfolio of ten industrial biotech companies, backed through two dedicated funds: Sofinnova Green Seed Fund which raised €22,5 M in 2012 and Sofinnova IB I which raised €106 M in its first closing in 2017.
About Sofinnova Partners
Sofinnova Partners is a leading European venture capital firm specialized in Life Sciences. Based in Paris, France, the firm brings together 12 highly experienced investment professionals from all over Europe, the US and China. The firm focuses on paradigm shifting technologies alongside visionary entrepreneurs. Sofinnova Partners seeks to invest as a founding and lead investor in start-ups and corporate spin-offs, and has backed nearly 500 companies over more than 40 years, creating market leaders around the globe. Today, Sofinnova Partners has over €1.6 billion under management.
For more information, please visit: www.sofinnova.fr
Anne REIN, Tel: +33 6 03 35 92 05
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
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