Evonetix Ltd, a synthetic biology company bringing semiconductor technology to DNA synthesis, has completed a $24 million financing round, extending its total series B funding to over $54 million.
This fundraise was led by existing investor Foresite Capital, with Molten Ventures, Morningside, DCVC, Cambridge Consultants, Civilization Ventures and Providence also participating in the round.
The investment will enable the continued development of Evonetix’s semiconductor chips to commercial scale, and the extension of gene assembly capabilities for its binary assembly technology to deliver accurate, gene-length DNA in a benchtop instrument.
The company said the platform has the potential to revolutionize the way this DNA is prepared and delivered to users in the rapidly growing field of synthetic biology, accelerating research in applications across pharma, biotech, food, agriculture, and data storage.
Colin McCracken, chief executive officer at Evonetix, said: “This substantial investment round demonstrates continued confidence in the progress of our technical development and its potential to revolutionize the accessibility of gene synthesis. Evonetix is in a very exciting phase, having recently opened our early access program. This investment will support us as we execute on our commercial strategy to put benchtop gene synthesis in the hands of users.”
Evonetix Binary Assembly
Paul Beastall, chair of the board of directors at Evonetix, said: “We’re delighted to have secured additional funding from our existing investors in this oversubscribed round, testament not only to the promise of our novel approach to gene synthesis, but also the unrivalled expertise of our interdisciplinary team.”
Evonetix’s proprietary synthesis process utilizes a novel silicon chip, to control the synthesis of DNA at many thousands of independent thermally controlled reaction sites, or ‘pixels’, and their assembly into highly accurate long DNA on the chip surface through the company’s patented Binary Assembly process.
This approach enables the accurate synthesis of thousands of sequences on a single chip to meet the demand for complex libraries and assembly of long DNA in days rather than weeks, accelerating research across the exciting field of synthetic biology.