A $35 million Series B fundraising round was secured by San Carlos, California-based Elegen, a firm that specializes in DNA synthesis and manufacture.
Investors
- Triatomic Capital
- GSK and John Ballantyne, co-founder of Aldevron
- Agilent Technologies
- KdT Ventures
- 8VC
- Digitalis Ventures
- ACVC Partners
- AME Cloud Ventures
- Alix Ventures
- Andreessen Horowitz (a16z Bio + Health)
- Peter Zhou, General Partner of Triatomic Capital, will join the board of Elegen in connection with the transaction.
Use of funds
The funds will be used by the business to expedite the expansion of its ENFINIATM DNA product line, which produces GMP-compliant DNA for clinical development of genetic therapies, across clinical processes.
About Elegen
Elegen, led by CEO Matthew Hill, Ph.D., was founded in 2017 and uses technology innovation and analytics to produce synthetic DNA more quickly. It builds DNA on a better timetable for the pharmaceutical, chemical, agricultural, and healthcare industries using a patented microfluidics technique.
“With this investment, we will continue to push the boundaries of DNA synthesis to accelerate upstream discovery and enable rapid and streamlined deployment of new clinical modalities.”
Matthew Hill
