Gene editing is a type of genetic engineering and it is a relatively newer concept. It involves insertion, deletion, modification or replacement of DNA in a living organism’s genome. Gene editing could be a powerful tool for helping people suffering from chronic ailments. Some companies are working tirelessly to employ gene editing for solving health problems and Cambridge, Massachusetts based Verve Therapeutics is one of them. The company has now secured €56M in Series A2 to advance gene-editing therapies for reducing the risk of coronary heart disease.
Series A2 brings in €56M for research and development
The latest series A2 round for Verve Therapeutics was led by company’s existing investor GV, which was formerly known as Google Ventures. Furthermore, current investors ARCH Venture Partners, F-Prime Capital, and Biomatics Capital also joined the investment round. New investors Wellington Management and Casdin Capital also joined in. With the latest funding, the overall funds raised by the company touch a total of €109.5 million.
Coronary heart disease is said to be one of the leading causes of death in the U.S. and worldwide. Verve capital is developing a solution to tackle the issue and lower its risks in adults. It is doing so by developing one-time, gene-editing therapies that can safely edit targeted genes in the liver, which will result in permanent lowering of LDL cholesterol and triglycerides, which are key risk factors causing coronary heart disease. With the freshly acquired funds, the company will focus on advancing its lead program through IND-enabling studies and progress follow-on pipeline programs.
“We are immensely grateful to our existing investors for their continued support and commitment to our bold vision to eradicate coronary heart disease, and are very pleased to welcome Wellington Management and Casdin Capital to our investor syndicate,” says Sekar Kathiresan, M.D, co-founder and CEO of Verve. “This financing is a testament to the tremendous work by the Verve team and will position us to rapidly advance our lead therapeutic candidate through IND-enabling studies and expand our pipeline of development programs. People with heart disease are in urgent need of new therapeutic options, and Verve’s research to date further underscores the transformative potential of gene editing as a therapeutic approach for these patients.”
Image credits: Verve Therapeutics
Stay tuned to Silicon Canals for more European technology news