Precision intends to expand applications of its ARCUS genome editing platform in the areas of immuno-oncology, genetic disease, and food on its way to building a fully integrated biotechnology company. ARCUS is Precision’s proprietary, homing endonuclease-derived genome editing platform that leverages the small size and high specificity of a natural genome editing system. During 2018, Precision plans to utilize the proceeds from this financing to accelerate and expand its product portfolio. Specifically, Precision targets taking its lead, off-the-shelf CAR-T product into the clinic while advancing both its lead in vivo gene therapy program into IND-enabling studies and its flagship food program into field trials.
“We are thrilled to have such strong support from these leading healthcare investors who share in our vision for the future of human health through innovations in food and medicine,” said Matt Kane, CEO of Precision. “This financing provides us with a strong foundation from which we can advance our translational genome editing programs in multiple sectors.”
In conjunction with the Series B financing, Tony Yao of ArrowMark Partners has joined the Precision Board of Directors alongside existing directors Matt Kane, Derek Jantz, CSO of Precision, and Robert Adelman of venBio.
“We believe that Precision’s core gene editing technology represents a new way to alter the genome, and we are utilizing this technology to address several areas of great unmet need,” said Tony Yao, M.D., Ph.D. “I look forward to working with the team as we advance our programs.”
Smith, Anderson, Blount, Dorsett, Mitchell & Jernigan, LLP acted as outside counsel to Precision in connection with the financing.
