In San Diego, enzymatic DNA synthesis firm Molecular Assemblies has raised $2.3 million in an oversubscribed seed round of financing.
Founded in 2013, Molecular Assemblies is working to overcome the technological restrictions of current methods of chemical DNA synthesis, namely limitations on quality and gene length, high costs; the need for harsh chemicals; and the generation of toxic byproducts. The funds will be used for research and development.
“New methods of writing genetic code are desperately needed if we are to realize the promise of the next generation of genomics—from industrial synthetic biology to personalized DNA-based therapies and diagnostics, and more,” says Kirk Wright, co-manager of Cavendish Impact Capital Fund, which contributed to the funding round. “We… believe that [Molecular Assemblies’] enzymatic approach to synthesizing DNA represents a dramatic change in how DNA will be made in the future and consequently our ability to accelerate new applications of genomics.”
Additional participants include Agilent Technologies, Eleven Two Capital, Keshif Ventures, Genomics Investment Syndicate, Newport Holdings, LP, and Alexandria Venture Investments.