VC Roundup: Caribou Completes $30m Non-IPO CRISPR Financing; $205m In Cash For Five Others
Gene editing is all the rage in biotechnology these days, but Caribou Biosciences Inc. has taken a different path than its CRISPR peers by diversifying beyond therapeutics to agriculture, industrial and applied research. The company also has taken a different financing path – recently closing a $30m Series B venture capital round instead of pursuing an initial public offering.
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Three CRISPR/Cas9 patent owners and four companies that license the intellectual property – CRISPR, Intellia, Caribou and ERS – signed a formal agreement to protect their patent rights and cross-license necessary IP while a patent interference proceeding is ongoing.