CRISPR Therapeutics has announced an additional $38 million closing of its Series B financing. This additional investment brings the total Series B financing round to nearly $140 million. The previous Series B investment was led by Vertex Pharmaceuticals and Bayer Global Investments, an affiliate of Bayer AG, as part of the company’s strategic investment in CRISPR Therapeutics.
This second, oversubscribed closing of the Series B financing, includes several new institutional investors and specialized healthcare funds. Participating investors in this round include Franklin Templeton Investments, New Leaf Venture Partners, funds advised by Clough Capital Partners L.P. and Wellington Capital Management L.L.P., and other undisclosed funds specializing in life sciences.
“We are very pleased to add these top tier institutional investors in the most recent closing of our Series B financing,” commented Dr. Rodger Novak, Chief Executive Officer of CRISPR Therapeutics.
“Along with the recent investments made by our strategic partners, Vertex and Bayer, we believe this further investment represents a strong validation of our approach to translate the novel CRISPR/Cas9 gene-editing technology into life-changing medicines for patients. We plan to use these proceeds to advance our current and future programs to the clinic and to expand our research and development organization in Cambridge, Massachusetts.”
Guggenheim Securities acted as financial advisor to CRISPR Therapeutics, while Vischer AG and Goodwin Procter acted as legal counsel to CRISPR Therapeutics on this transaction.