Minnesota University co-leads a series A round in its spinout, which is working on gene editing therapies.
B-Mogen Biotechnologies, a genome editing spinout of Minnesota University, has closed a series A round co-led by the university’s Discovery Capital Investment Program and healthcare company Bio-Techne.
Mayo Clinic Ventures, the investment arm of medical practice Mayo Clinic, and Lateral Capital also contributed cash to the round.
Financial details were not confirmed in B-Mogen’s press release, though a regulatory filing reveals the spinout secured $1m out of a targeted $1.3m in May 2016.
Founded in 2015, B-Mogen is working on gene editing technology that has applications in antibody validation, gene transfer, human disease research and mitochondrial DNA editing.
The company is based on research conducted by David Largaespada and Branden Moriarity, two faculty members from Minnesota’s Masonic Cancer Center. The spinout has also licensed additional research from Mayo Clinic.
The capital will help B-Mogen to commercialise its technology.
Jay Schrankler, executive director of Minnesota University’s tech transfer office Office for Technology Commercialization, said: “B-Mogen, driven by talented university researchers and cutting-edge technology, holds enormous potential and was a natural fit for a Discovery Capital investment.
“We are excited to envision the many ways the startup’s leadership will channel their expertise and passion to develop tools that can help improve our society’s health and wellbeing.”
