The gene editing technology developer is the latest spinout emerging out of the lab of David Liu at Broad Institute.

Prime Medicine, a US-based gene-editing technology developer spun out of Broad Institute, has emerged from stealth with $315m of series A and B funding. The company raised $115m in a series A round backed by GV, a corporate venturing subsidiary of internet and technology group Alphabet, together with Arch Venture Partners, Newpath Partners and Fidelity’s F-Prime Capital unit. Prime Medicine concurrently unveiled a $200m series B round featuring all the series A investors in addition to Casdin Capital, Cormorant Asset Management, Moore Strategic Ventures, PSP Investments, Redmile Group, Samsara BioCapital, funds and accounts advised by T Rowe Price, and unspecified life science investment funds. Founded in 2019, Prime Medicine has built a technology platform designed to modify genetic sequences within the genome to correct disease-causing genetic mutations. The startup is using gene-editing technology to advance a number of drug discovery programmes targeted at areas such as the liver, eye, ex-vivo hematopoietic stem cell and neuro-muscular indications. The funding will drive Prime Medicine’s growth and enable it to further develop its technology platform. Its Prime Editing technology was developed by co-founders David Liu and Andrew Anzalone. The company has a partnership in place with Beam Therapeutics, a genomic therapy developer that also emerged from the laboratory of Liu. – A version of this article first appeared on our sister site, Global Corporate Venturing.  

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