On January 5, 2023, gene editing company Metagenomi announced a $100 million Series B extension financing co-led by Novo Holdings A/S, Catalio Capital Management and SymBiosis. The transaction was also supported by new and existing investors, including Leaps by Bayer and Moderna, as well as the initial Series B leads PFM Health Sciences, Farallon Capital Management. Wilson Sonsini Goodrich & Rosati advised Novo on the financing.
The additional financing will bring the company’s total Series B proceeds to $275 million, which has been provided by more than 30 investment groups. Metagenomi plans to use the proceeds to support its lead therapeutic program from preclinical development into clinical proof-of-concept. The company expects to expand its pipeline and to nominate new therapeutic targets to its proprietary genetic medicines pipeline using its automated discovery engine and versatile gene editing toolbox.
Novo Holdings is responsible for managing the assets of Novo Nordisk Foundation, which seeks to improve people’s health and the sustainability of society and the planet. The firm invests in life sciences companies and is an asset manager.
The Wilson Sonsini team advising on the deal includes Dan Koeppen, Kassandra Castillo, and Bridget Balisy.
For more information, please see the press release.