Cambridge, United Kingdom-based synthetic biology company providing genes to the pharmaceutical and biotechnology industries, Camena Bioscience, raised USD 10 million in Series A financing. The round took place on July 3, 2023. Mercia led the financing for the biology company.
As a part of the deal, Lee Lindley, a member of Mercia’s investment team, joins Camena’s Board of Directors. In addition, Aditya Rajagopal, founder and CTO of ChromaCode, Inc., a commercial-stage diagnostics company focused on developing highly scalable and affordable cancer tests, joins Camena’s Board.
Purpose of financing for Camena Bioscience
With the latest capital injection from the Series A round, Camena Bioscience seeks to scale operations. The company also has plans to continue to deploy funds towards the development of its pioneering DNA synthesis platform, gSynth.
What the Camena Biosciences official has to add
Steve Harvey, CEO, Camena Bioscience, commented, “We are delighted to have closed this latest round of funding with Mercia, which provides further validation of Camena’s approach. The ability to read, write and manipulate DNA is the foundation of the synthetic biology value chain, yet developments in DNA synthesis have not kept pace with DNA sequencing and editing capabilities. Camena’s gSynth™ platform is revolutionising the DNA synthesis market by unlocking access to genes and accelerating discovery pipelines. As the focus on sustainability and supply-chain security becomes more acute, Camena is leading the way with a green synthesis technology and is already well positioned to serve this burgeoning market. The invention of next-generation DNA sequencing technologies transformed our ability to “read” DNA. Our goal is to enable our customers to “write” DNA with the same confidence and ease.”
What the investors have to add
Lee Lindley, Investment Manager, Mercia, further added, “The market for synthetic genes is growing rapidly, but much of the demand is for complex genes which are extremely difficult to produce accurately. Camena’s technology is a game changer that could unlock a much bigger global market. We’re excited to support Camena on its next stage of growth.”
About the company
Founders Andy Fraser, Derek Stemple, and Steve Harvey launched the company in 2016. Camena Bioscience offers unique and highly accurate enzyme-based DNA synthesis technology. It already enjoys commercial agreements with leading consumers of synthetic genes, securing a multi-million-pound revenue stream over the previous year. Camena’s technology overcomes the limitations by leveraging a wholly novel enzymatic technology to accurately produce synthetic DNA.
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