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Camena Bioscience has completed $10 million in Series A financing on the back of growing demand for DNA synthesis.
On July 03, 2023, UK-based synthetic biology company Camena Bioscience announced that it has closed a $10 million Series A financing round, which was led by Mercia, a UK-based venture capital firm. With the new funding, Camena intends to scale operations and continue developing gSynth, its enzyme-based DNA synthesis platform.
According to a company press release, demand for DNA synthesis technology has been growing as synthetic genes are being widely used in research to better understand the mechanisms of disease and in the drug discovery process to combat disease. Cost, time, and accuracy of traditional DNA synthesis methods (developed in the 1980s) remains prohibitive, however, particularly when creating long or complex sequences of genes. The technology developed by Camena overcomes these limitations with the use of a novel enzymatic technology that can accurately produce synthetic DNA, according to the press release.
“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,” said Steve Harvey, CEO, Camena, in the release. “Camena’s gSynth platform is revolutionizing the DNA synthesis market by unlocking access to genes and accelerating discovery pipelines.”
“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,” Harvey added.
“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,” said Lee Lindley, investment manager, Mercia, in the release.
Source: Camena Bioscience