The newly secured funding will be utilised to expand operations and further advance the development of its groundbreaking DNA synthesis platform, gSynth
The funding will be used to further advance development of the company’s DNA synthesis platform, gSynth. (Credit: PublicDomainPictures from Pixabay)
Camena Bioscience, a synthetic biology company specialising in providing genes to the pharmaceutical and biotechnology sectors, announced the successful closure of a $10m Series A funding round today, led by Mercia.
The newly secured funding will be utilised to expand operations and further advance the development of its groundbreaking DNA synthesis platform, gSynth.
Distinguished as the first company to offer an exceptional enzyme-based DNA synthesis technology, Camena has already established lucrative commercial agreements with prominent consumers of synthetic genes, resulting in a multi-million-pound revenue stream over the past year.
Synthetic genes play a crucial role in enhancing our understanding of disease mechanisms and aiding in the drug discovery process. However, the cost, time, and accuracy constraints associated with traditional DNA synthesis methods, developed in the 1980s, remain significant challenges, especially when dealing with long or complex gene sequences. Camena’s technology overcomes these limitations by employing an entirely innovative enzymatic approach to produce synthetic DNA with exceptional accuracy.
Heading the company as CEO and co-founder is Dr Steve Harvey, a renowned figure in genomics research. Serving as the CSO and co-founder is Dr Derek Stemple, a globally recognised molecular biologist who was previously a co-founder of TwistDX, which was acquired by Alere (now part of Abbott) in 2010.
Harvey commented: “We are delighted to have closed this latest round of funding with Mercia, which provides further validation of Camena’s approach. The ability to read, write and manipulate DNA is the foundation of the synthetic biology value chain, yet developments in DNA synthesis have not kept pace with DNA sequencing and editing capabilities. Camena’s gSynth platform is revolutionising the DNA synthesis market by unlocking access to genes and accelerating discovery pipelines.
“As the focus on sustainability and supply-chain security become more acute, Camena is leading the way with a green synthesis technology and is already well positioned to serve this burgeoning market. The invention of next-generation DNA sequencing technologies transformed our ability to “read” DNA. Our goal is to enable our customers to “write” DNA with the same confidence and ease.”
Following the funding round, Camena Bioscience has welcomed Lee Lindley and Aditya Rajagopal to its Board of Directors.
Lee Lindley, a member of Mercia’s investment team, brings nearly a decade of corporate financing experience to Camena’s Board. He holds a Bachelor of Arts in Natural Sciences from the University of Cambridge and a Masters in Research Methods from the University of Manchester.
In addition, Aditya Rajagopal has joined Camena’s Board. Aditya is the founder and Chief Technology Officer of ChromaCode, Inc., a commercial-stage diagnostics company focused on developing highly scalable and affordable cancer tests. He also serves as the co-founder and Executive Chairman of Esperto Medical, a venture-backed company specializing in non-invasive vital sign monitors.
Lindley said: “The market for synthetic genes is growing rapidly but much of the demand is for complex genes which are extremely difficult to produce accurately. Camena’s technology is a game changer that could unlock a much bigger global market. We’re excited to support Camena on its next stage of growth.”