Cambridge, UK: Pencil Biosciences, an innovative gene editing and modulation technology company has successfully raised £5.6 million in seed funding; a company that o2h Ventures backed in its first PreSeed funding round.
Pencil Biosciences is developing a fully synthetic gene modulation and editing platform that will have impact across a wide range of applications, including new therapeutic options for patients with rare diseases and cancer. New investors include Octopus Investments, Northern Gritstone, Martlet Capital and SyndicateRoom. Existing investors – including UKi2S, the Greater Manchester and Cheshire Life Science Fund managed by Catapult Ventures, Jonathan Milner (Meltwind), o2h Ventures, also participated in the funding round by making a follow-on investment.
In 2020, o2h Ventures initially invested in Pencil Biosciences through their human health Enterprise Investment Scheme (EIS) fund, supporting the company’s initiation and expansion efforts. The newly acquired funds will be instrumental in enhancing and broadening the capabilities of its proprietary editing and modulation technology. This technology, characterized by its modular design, non-CRISPR composition, and remarkable compactness in comparison to Cas-based gene editing technologies, holds immense promise.
Sunil Shah, CEO of o2h Ventures, said
“We are thrilled that Pencil have closed this Seed investment from a syndicate or highly regarded investors. In a market where investors are highly selective this is a testament to both the platform and the management team.”
Amanda Smith, CEO of Pencil Biosciences, said
“Our ambition is to develop a truly innovative and unique gene modulation technology that catalyses innovation across a range of applications, including new therapeutic options for patients with rare diseases and cancer. This investment brings us closer to achieving our goals.”
About Pencil Biosciences
Pencil Biosciences is a company developing a novel gene editing and modulation platform that it anticipates will have wide impact across a range of applications. Based at Cheshire’s Alderley Park, Pencil Biosciences benefits from an experienced board and management team.
About o2h Ventures
The o2h Ventures ‘Human Health’ SEIS and KI EIS funds make tax-efficient investments in early stage ands seed stage companies that address human disease: we fund the development of novel biotech therapeutics; we help build new services and tools offerings throughout the biotech ecosystem, and we spur the creation of software & artificial intelligence that will change healthcare. Explore our portfolio – https://o2hventures.com/portfolio.
The o2h team are leaders in the biotech community and have been actively involved as investors, holding various board/industry positions as well as being engaged in grassroots scientific activity for over 20 years. o2h Ventures operates from their proprietary 2.7 acre Mill SciTech Park where they are developing a unique model for incubating small life science companies.