Copenhagen, 11 March 2019 - SNIPR BIOME, a leading CRISPR and microbiome private biotech company incorporated in Copenhagen, Denmark, today announced a $50 million series A financing led by LSP and existing investor Lundbeckfonden Emerge (Copenhagen) together with North-East Family Office (Copenhagen) and Wellington Partners (Munich).
SNIPR BIOME is pioneering a novel use of CRISPR/Cas technology to selectively and precisely eradicate target bacteria, while leaving the rest of the patient’s microbial community intact.
The proceeds of the $50 million (€43 million, DKK320 million) financing will fund the further development of the company's pioneering CRISPR technology platform and the company's first clinical programs.
Dr. Christian Grøndahl, Co-founder & CEO:
“We have the potential to develop valuable therapeutics within multiple important disease areas. We will focus initially on precision medicines for difficult-to-treat infections and precision microbiome modulation in auto-immunity and cancer. We are utilizing the bacteria’s CRISPR/Cas immune system to selectively kill target bacteria based on specific DNA fingerprints. We are thrilled to have obtained this massive and transformational funding and backing from absolute leading European VCs and investors in Lundbeckfonden Emerge, LSP, North-East Family Office, and Wellington Partners.”
Dr. Joachim Rothe, Managing Partner at LSP, and Director of SNIPR BIOME Board: “We are honored to become part of translating the exciting findings of the founders of SNIPR BIOME into life-saving products in an area of acute medical need. It is another example of outstanding European science with transformational clinical potential.”
Dr. Christian Elling, Managing Partner of Lundbeckfonden Emerge, and Chairman of SNIPR BIOME Board: "SNIPR BIOME is based on cutting edge gene editing CRISPR science, which offers an opportunity to develop new effective and selective treatments towards a host of human diseases. Based on our original Exploratory Investment, the company has successfully matured its drug development technology and the current series A investment reflects this fact. We warmly welcome the new investors in the company and look forward to our continued collaboration with the team helping them grow the company to address important unmet needs of patients."
Dr. Regina Hodits, Managing Partner, Wellington Partners, and Director of SNIPR BIOME Board: "We are delighted to join the world leading team at SNIPR on their exciting journey of turning the promise of microbiome engineering into tangible products and benefits for patients.”
LSP is an independent European investment firm, providing financing for private and public life sciences companies. LSP’s mission is to connect investors to inventors, focusing on unmet medical needs. Since the late 1980s, LSP’s management has invested in about 100 innovative enterprises, many of which have grown to become leaders of the global life sciences industry. With over €2.0 billion ($2.3 billion) of investment capital raised to date and offices in Amsterdam, Munich and Boston, LSP is one of Europe’s leading life sciences investors. LSP also invests in public companies through its Euronext listed LSP Life Sciences Fund (Bloomberg: LSP NA). SNIPR BIOME is the fourth investment of LSP’s latest flagship fund, LSP 6. For more information, please visit: www.lspvc.com
About SNIPR BIOME
SNIPR BIOME is a leading CRISPR and microbiome biotech company incorporated in Copenhagen, Denmark. SNIPR BIOME is engaged in the discovery and development of CRISPR/Cas-based drugs deploying its proprietary and patent-protected CRISPR/Cas platform. SNIPR BIOME is pioneering a novel use of CRISPR/Cas technology to selectively and precisely eradicate target bacteria, while leaving the rest of the patient’s microbial community intact. For more details, please visit: www.sniprbiome.com
About Lundbeckfonden Emerge
Lundbeckfonden Emerge is the early stage investment unit of the Lundbeck Foundation, one of the largest industrial foundations in Denmark with a market value of around USD 10 billion. In addition to the three subsidiaries, Lundbeck, ALK-Abelló and Falck, the Foundation manages a portfolio of more than 25 life science investments in Europe and the US and owns a portfolio of securities of more than USD 2 billion. For more information, please visit: www.lundbeckfonden.com
About North-East Family Office
North-East Family Office was established in 2013 by the founders of the global jewelry brand Pandora. The office manages all financial matters on behalf of the family members including asset management. In general we have a dedicated focus on long-term investments. This effort includes, among others, an increasing commitment to venture and private equity investments within biotech and health care through the dedicated investment vehicle North-East Healthcare Investment. For more information, please visit: www.nefo.com
About Wellington Partners
Wellington Partners is a leading European Venture Capital firm investing in early- and growthstage Life Science companies, active in the fields of Therapeutics, Medical Technology, Diagnostics, Digital Health and Industrial Biotechnology. With funds totaling more than €1.0 billion, thereof €400 million committed to Life Sciences, Wellington Partners has been actively supporting worldclass private companies translating true innovation into successful businesses of exceptional growth. Since 1998, Wellington Partners has invested in 42 Life Science start-ups, including Definiens (acquired by AZ/Medimmune), Rigontec (acquired by MSD) and Symetis (acquired by Boston Scientific). For more information, please visit: www.wellington-partners.com
Dr. Joachim Rothe
Managing Partner, LSP
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