CRISPR Therapeutics adds $38M to Series B pot, but lags behind Parker

CRISPR Therapeutics has raised an additional $38 million as part of its Series B raise, bringing its total to an impressive $140 million--but the company will not be the first to bring the gene editing tech into the clinic, with this likely to come from Sean Parker’s research outfit.

The previous Series B investment was led by Vertex ($VRTX) and Bayer Global Investments with this second, oversubscribed Series B part 2 seeing several new investors, such as Franklin Templeton Investments and New Leaf Venture Partners, stump up some major investment. The biotech has also seen previous funding boosts from Glaxo ($GSK) and Celgene ($CELG). 

“We are very pleased to add these top tier institutional investors in the most recent closing of our Series B financing,” said Dr. Rodger Novak, CEO of the Cambridge, MA-based biotech. “Along with the recent investments made by our strategic partners, Vertex and Bayer, we believe this further investment represents a strong validation of our approach to translate the novel CRISPR/Cas9 gene-editing technology into life-changing medicines for patients. We plan to use these proceeds to advance our...