UK-based gene editing and modulation tech startup Pencil Biosciences has raised £5.6 million in Seed funding. Designed to assist the transformation of the gene editing landscape in therapeutic solutions for those with rare diseases and cancer, Pencil Biosciences intends to further develop its platform.
According to the startup, they intend to deepen and widen the capabilities of its proprietary editing and modulation technology, which is modular in design, non-CRISPR in composition, and significantly smaller than any Cas-based gene editing technologies.
Investors in the round include new investors Octopus Ventures, Northern Gritstone, and Martlet Capital and existing investors, the Greater Manchester and Cheshire Life Science Fund managed by Catapult Ventures, UKI2S, Jonathan Milner (Meltwind), and o2h Ventures. additional support has been provided by SyndicateRoom’s Access Enterprise Investment Scheme.
"In this sector, Pencil is a fantastic example of the exciting new generation of science and technology businesses emerging and scaling in the North of England, and we look forward to working with Amanda and her team as they progress with the development of their innovative technology platform which has the potential to transform treatment provided to patients with rare diseases," says Duncan Johnson, Chief Executive Officer at Northern Gritstone.
Founded in 2019 by Dr. Rajik Ibrahim, Dr. Timothy Schulz-Utermoehl, and Dr. Martin Quibell the company is now led by CEO Dr. Amanda Smith, primary Founder and CTO Dr. Rajik Ibrahim, and Chair Dr. Jon Moore.
"Our ambition is to develop a truly innovative and unique gene modulation technology that catalyses innovation across a range of applications, including new therapeutic options for patients with rare diseases and cancer. This investment brings us closer to achieving our goals." says Smith.
Lead image: 3D render by Sangharsh Lohakare.
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