Online investment platform SyndicateRoom today announced the opening of a £1.5mln investment round for Desktop Genetics Ltd (DTG), a software company revolutionising the way biologists use CRISPR genome editing technology.
DTG – which uses artificial intelligence (AI) to enable scientists and researchers to capitalise on genome engineering technology - plans to use the funds to commercialise products and support its expansion into the US.
Since its launch in 2012, the company has developed an industry-leading software platform to design and manufacture CRISPR1 genome editing reagents, and has developed and refined products which are now ready for launch.
The genome engineering market is estimated to be worth approximately US$2.84bn globally, and set to grow to more than US$6bn by 2021, by which time it is estimated that between 60,000 and 100,000 labs will be using CRISPR technology.
Riley Doyle, DTG’s CEO said: “Desktop Genetics has proven its ability to deliver value to customers, and has established a strong pipeline, with key research milestones hit since the 2015 investment round.”
He added: “This funding round provides a great opportunity as we gear up for further growth, resourcing future initiatives, hiring new team members and launching fresh products.”
Jonathan Milner, lead investor in Desktop Genetics, and co-founder and deputy chairman of antibodies firm Abcam PLC (LON:ABC), said: “Desktop Genetics’ management team has established a lucrative niche in the industry, which has seen the company make a real impact for researchers working with CRISPR technology.“