Concinnity Genetics Raises £3m for Gene Therapy Innovation
Deal News | Dec 16, 2024 | Scottish Enterprise
Concinnity Genetics, a spinout from the University of Edinburgh, secured £3 million in an oversubscribed funding round, led by Scottish Enterprise. This investment will enable the company to establish operations in Scotland's life science hub, launching three new gene therapy control systems programs. Co-founded by Jessica Birt and Dr. Matthew Dale, Concinnity develops RNA-based systems for precise gene therapy control through AI and synthetic biology. The funding allows them to spin off from Professor Susan Rosser's lab and seek partnerships. The investment underscores the confidence in Concinnity's potential to innovate safe gene therapies. Eos Advisory's Andrew McNeill noted the technology could address significant unmet needs in gene therapy. Edinburgh Innovations and Scottish Enterprise have supported Concinnity's journey, highlighting the importance of engineering biology in therapeutic advancements. This funding represents a key step towards building a safer gene therapy platform on an international scale.
Sectors
- Biotechnology
- Venture Capital
Geography
- Scotland – Concinnity Genetics is based in Scotland, with significant involvement from Scottish Enterprise, a national economic development agency of the Scottish Government.
- United Kingdom – The University of Edinburgh, where Concinnity Genetics is spinning out from, is located in the UK, underscoring the regional academic contribution to the company.
Industry
- Biotechnology – The article discusses Concinnity Genetics' advancements in gene therapy using RNA-based systems, a key area in biotechnology.
- Venture Capital – The article highlights the financial backing from Scottish Enterprise and Eos Advisory, indicating noteworthy venture capital involvement.
Financials
- £3 million – The amount raised by Concinnity Genetics in the latest funding round, supported by Scottish Enterprise and Eos Advisory.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Concinnity Genetics | Target Company | Company | A gene therapy company focusing on RNA-based control systems, spun out from the University of Edinburgh. |
| Scottish Enterprise | Investor | Company | Scotland's national economic development agency, providing funding to help Concinnity spin out and scale up. |
| Eos Advisory | Investor | Company | Invests in early stage science and technology businesses, co-investor in this funding round. |
| Jessica Birt | Co-founder and CEO | Person | Co-founder and CEO of Concinnity Genetics, leading the company's strategic direction. |
| Dr Matthew Dale | Co-founder and CSO | Person | Co-founder and Chief Scientific Officer of Concinnity Genetics, responsible for technological advancements. |
| Professor Susan Rosser | Chair of Scientific Advisory Board | Person | Contributed to Concinnity's technology through her work at the UKRI UK Centre for Mammalian Synthetic Biology. |
| University of Edinburgh | Source Institution | Company | The academic institution from which Concinnity Genetics is spinning out. |