Stealth startup Wobble Genomics secures €9.9M to reveal the ‘unseen world of RNA’

Wobble Genomics, a spin-out from the University of Edinburgh, announced that it has secured £8.5M (approximately €9.93M) in a fresh round of funding. The company focuses on enhancing RNA and DNA sequencing efficiency, particularly for the identification and detection of nucleic acid biomarkers.

The investment was led by Mercia Ventures and BGF and backed by IQ Capital, EOS Advisors and Old College Capital, the university’s venture fund. This funding round brings Wobble Genomics’ total raised capital to over £10.5M (approximately €12.27M).

Wobble Genomics’ technology

Currently operating in stealth mode, Wobble Genomics has developed a method to detect previously unseen ‘full length’ RNA. 

The company claims that this technology holds promising applications across diverse fields, including drug development, research, agriculture, and ecology.

According to Wobble, genetic sequencing typically focuses on DNA, but RNA molecules govern cell behaviour. RNA sequencing provides a more nuanced understanding of how cells react in diverse situations, offering valuable insights for research and applications.

Traditional RNA sequencing faced challenges with instability and complexity. Wobble’s approach enables long-read sequencing, overcoming limitations and capturing full-length RNA for more comprehensive applications.

Wobble Genomics was founded in 2021 by Dr. Richard Kuo, who has over 15 years of expertise in biology and bioengineering, including a decade of research in long-read RNA sequencing at the Roslin Institute of the University of Edinburgh.

Currently, with a team of 10, the company anticipates doubling in size over the next two years.

Capital utilisation

The proceeds will support the commercialisation of Wobble Genomics’ RNA sequencing technology.

Founder Dr. Kuo says, “Genetic sequencing has come a long way since its inception in the 1970s. The industry is now moving past short-read towards long-read sequencing, with long-read RNA sequencing being one of the most exciting new developments in biotechnology.”

“We believe our solution could accelerate a new wave of biotechnology innovations. We are pleased to receive backing from some of the UK’s leading life science investors, which highlights its potential.”

“The funding will help us to pursue our mission to reveal the unseen world of RNA and unlock exciting new applications.”

Brief about the investors

Mercia Ventures, a venture capital investor under Mercia Asset Management PLC, focuses on equity investments of up to £10M across sectors like software, consumer, healthcare, and deep tech. 

With a national footprint and a 48-member investment team, the firm supports over 400 startups in achieving their ambitions. As part of Mercia Asset Management PLC, listed on AIM as ‘MERC’, the company manages approximately £1.4B in assets.

Speaking about the investment in Wobble Genomics, Lee Lindley of Mercia Ventures says, “Wobble’s technology has far-reaching applications, including the potential to make precision medicine, and the improved patients outcomes that this would deliver, a reality.”

“It is particularly exciting that, unlike with many early-stage companies, the science behind it is already proven so the funding can be used to further develop and commercialise the technology.”

Founded in 2011, BGF is a growth capital investor in the UK and Ireland, investing over £3.9B in 550 companies. With a focus on life sciences, it has committed £200M to support companies in diagnostics, medtech, digital health, and related fields. 

BGF acts as a patient, minority, non-controlling equity partner, collaborating with management teams on shared long-term goals.

On investment in Wobble Genomics, Jo Smart of BGF says, “Wobble has developed a full stack approach to identifying and analysing RNA markers – an exciting field of research and development in the biotechnology sector – which has the potential to revolutionise the early detection of cancer markers from blood.”

“We look forward to bringing our considerable experience in the life sciences market to support the business as it continues to build further validation and guide how the technology is taken to market.”