Danish biotech company Snipr Biome is working towards developing medication for life threatening infectious- and autoimmune diseases. They recently landed a stunning 50 million dollar investment from the Lundbeck Foundation and three other investors. Snipr Biome is located in the innovation district Copenhagen Science City.
Young company is leader in precision gene editing
Snipr Biome is a relative newcomer to the industry, having existed for only a year and a half. They are pioneering a novel use of the so-called “gene scissors” CRISPR/Cas technology to eradicate target bacteria selectively and precisely, while leaving the rest of the patient’s microbial community intact.
Money to develop technology and launch human trials
The proceeds of the $50 million (€43 million, DKK 320 million) financing will fund the further development of the company’s gene editing CRISPR technology platform and the company’s first human clinical trials.
Medicines for difficult-to-treat infections
According to Snipr’s co-founder & CEO, Dr. Christian Grøndahl, the company has the potential to develop valuable therapeutics within a wide range of important disease areas. They initial plan is to focus on precision medicines for difficult-to-treat infections and precision microbiome modulation in auto-immunity and cancer. To do this, they utilize the bacteria’s CRISPR/Cas immune system to selectively kill target bacteria based on specific DNA fingerprints.
New investors join current
The 50 million series A financing round was led by existing investor Lundbeckfonden Emerge (Copenhagen) and LSP (Amsterdam), together with North-East Family Office (Copenhagen) and Wellington Partners (Munich). According to Danish newspaper “Berlingske” this financing round is the largest single investment ever in Danish biotech.