CRISPR News and Deals: Editas, Caribou

By Bio-IT World Staff

May 16, 2016 | Editas Medicine today announced a three-year, $5 million agreement with Cystic Fibrosis Foundation Therapeutics this morning, and Caribou Biosciences completed a $30 million Series B financing round.

Cystic Fibrosis Foundation Therapeutics (CFFT), the nonprofit affiliate of the Cystic Fibrosis Foundation, will pay Editas Medicine up to $5 million to support the discovery and development of CRISPR/Cas9-based medicines for the treatment of cystic fibrosis (CF). In addition, Editas will access CFFT’s extensive network of CF scientific advisors and clinical researchers.

The gene that causes CF encodes the cystic fibrosis transmembrane conductance regulator protein (CFTR), which helps maintain the water balance within the lung and in other tissues.  Mutations in this gene lead to problems with the flow of fluids and salt into and out of cells.  This causes a thick buildup of mucus in the lungs, pancreas and other organs. The mucus clogs the airways and traps bacteria, leading to chronic infections and inflammation of the airways. There are more than 1,800 known mutations within the CFTR gene. As part of this agreement, Editas Medicine will explore targeting both common mutations as well as mutations not addressed by conventional approaches. 

“We believe that the CRISPR approach to gene editing holds significant promise for repairing the underlying cause of cystic fibrosis," said Preston W. Campbell III, M.D., President and Chief Executive Officer of the CF Foundation in a press release. "We’re pleased to work with Editas Medicine and are excited by the possibilities of what can be accomplished on behalf of people with CF.”

Caribou’s $30 Million Round

In other CRISPR news, Caribou Biosciences announced the completion of a $30 million Series B financing round this morning. The financing included the participation of new investors Anterra Capital, Heritage Group, Maverick Capital Ventures, and Pontifax AgTech.  Also participating in the round were existing investors, including F-Prime Capital Partners, Novartis, Mission Bay Capital, and 5 Prime Ventures. Philip Austin, Founding Partner at Anterra Capital, has joined the company's Board of Directors, representing the Series B investor class.

“We are delighted to have the support of such an esteemed group of new and current investors, and view the caliber of the participants as further validation of the potential of our CRISPR-Cas genome engineering platform to transform the development of new medical therapies and bio-based products,” said Rachel Haurwitz, Ph.D., President and Chief Executive Officer and co-founder of Caribou in the company’s statement. “The proceeds from this financing will enable us to continue to expand our industry-leading CRISPR gene editing technology platform and accelerate our efforts in highly promising application areas in agriculture, therapeutics, biological research, and industrial biotechnology. We look forward to working with this outstanding group of investors, and bringing their deep expertise and guidance to bear as we deliver on the promise of our technology platform.”