Reports + Research
Synthetic Genomics Spinout, SGI-DNA, Raises Series A
SGI-DNA has raised a $25 million Series A financing round led by Northpond Ventures and joined by Oxford Finance and BroadOak Capital Partners. According to Xconomy, SGI-DNA was founded as an SGI subsidiary in 2014 but was formally spun out about six months ago. The company, headed by CEO Todd Nelson, is developing “the industry’s first fully automated gene synthesis platform,” a digitized DNA convertor for biological products, and DNA data storage solutions.
ZeaKal Closed $15 Million Series C for PhotoSeed Technology
The oversubscribed financing includes a previously announced $10 million strategic investment by Toronto cannabis investor Canopy Rivers. Previous investors Finistere Ventures and Middleland Capital also participated. The proceeds of the financing will be used to advance ZeaKal’s PhotoSeed™ technology, which is designed to increase a plant’s photosynthetic capacity to produce higher yields and potentially deliver better nutrition. According to The San Diego Union-Tribune, “ZeaKal now has crop programs for soybeans, hemp and rye grass.” The company is also evaluating adding corn and canola next year, which is dependent on research partnerships.
GSK Acquires Sitari Pharmaceuticals
In 2013, GSK and Avalon Ventures made a first-of-its-kind collaboration between a pharmaceutical company and a venture firm. Today, Avalon announced that GSK will acquire the first company formed under the collaboration, Sitari Pharmaceuticals. Sitari has been developing a novel treatment for celiac disease and was incubated at COI Pharmaceuticals, the Community of Innovation established by Avalon Ventures. According to San Diego Business Journal, “Sitari’s preclinical asset generated compelling data” and the program is about a year away from an IND, which is required to start clinical trials.
Read + Listen
POW: Podcast of the Week
Hudson Freeze, director of the Human Genetics Program at Sanford Burham Medical Research Institute, discusses Why Raising Awareness Matters in the Fight Against Rare Diseases.
It’s Happening Here
September 18-20:
RARE Patient Advocacy Summit will take place this year September 18-20 at the Sheraton San Diego Hotel & Marina.
September 24:
JLABS San Diego is hosting serial entrepreneur Michael Gilman on September 24 at 8am for a conversation about starting up and getting bought out.
September 24-25:
BIOCOM Life Science HR Conference is taking place September 24-25 at The Alexandria at Torrey Pines.
September 25:
On September 25, Meet with BARDA at Green Acre, Campus Point from 3:30pm-7pm
Client disclosure: Sitari/COI Pharma
Tags: Biotech, Biotech Briefing, Life Sciences, Medical Research, Venture Funding
