Healthcare Industry News: Chroma Medicine
News Release - March 1, 2023
Chroma Medicine Secures $135M in Series B Financing to Advance Breakthrough Epigenetic Editing Technology and Expand Pipeline of Durable Precision Genomic MedicinesFunding to progress Chroma's single-dose epigenetic editing therapies and support expansion of novel genetic medicine platform designed to enable precise gene regulation while preserving genomic integrity
Financing led by GV, with participation from ARCH Venture Partners, DCVC Bio, Mubadala Capital, Sixth Street, and all existing investors
CAMBRIDGE, Mass., March 1, 2023 -- (Healthcare Sales & Marketing Network) -- Chroma Medicine, Inc., (Chroma) a genomic medicine company pioneering single-dose epigenetic editing therapeutics, today announced the completion of a $135 million Series B financing led by GV (Google Ventures), with participation from additional new investors ARCH Venture Partners, DCVC Bio, Mubadala Capital, Sixth Street, and all existing investors, including Alexandria Venture Investments, Atlas Venture, Casdin Capital, Cormorant Asset Management, Janus Henderson Investors, Newpath Partners, Omega Funds, Osage University Partners, Sofinnova Partners, T Rowe Price, and Wellington Management. The financing will support advancement of Chroma's therapeutic programs toward the clinic, and continued investment in the company's core epigenetic editing platform.
"In the year since launch, we have made significant progress in advancing the pioneering work of our scientific founders towards harnessing the power of the cell's epigenome to regulate gene expression and developing a robust portfolio of single-dose epigenetic editing therapeutics," said Catherine Stehman-Breen, M.D., CEO of Chroma. "We're grateful to this exceptional syndicate of investors, whose commitment enables our ongoing drive to introduce this new class of precision genomic medicines with curative potential to patients with serious illnesses."
Current gene editing approaches regulate gene expression by cutting or nicking DNA, introducing risks associated with leveraging unpredictable DNA repair pathways. Chroma's single-dose epigenetic editors harness the cells' innate mechanism for gene regulation to precisely and durably silence, activate, and multiplex genes using a single platform, without changing the underlying DNA sequence. This groundbreaking approach enables Chroma to more effectively address a wide range of diseases and to target multiple pathways for complex diseases.
"Epigenetic editing opens the possibility of pursuing targets on the genome previously intractable with other therapeutic modalities; this includes the ability to target both protein coding and non-coding RNAs," said Vic Myer, Ph.D., CSO of Chroma. "Our approach enables precise regulation while avoiding break-induced mutations, translocations, and rearrangements associated with other technologies, removing limitations on the number of simultaneous edits that are possible."
"Genomic medicine is an exciting and fast-evolving field, and epigenetic editing has emerged as a promising new frontier for gene regulation," said Issi Rozen, Venture Partner, GV. "Chroma's technology enables durable modulation of gene expression—both individual genes and multiple genes at once—providing potentially transformative treatments for patients living with serious diseases."
About Chroma Medicine
Chroma Medicine is a biotechnology company pioneering a new class of genomic medicines that harness epigenetics, nature's innate mechanism for gene regulation, to deliver precise, programmable single-dose therapeutics while preserving genomic integrity. The company was founded by the world's foremost experts in genomic research and is led by a veteran team of industry leaders and scientists with deep experience in genomic medicine, drug discovery, and development. For more information, please visit chromamedicine.com or follow the company on LinkedIn and Twitter.
Source: Chroma Medicine
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