Molecular Assemblies Closes Oversubscribed $24 Million Series A Financing to Advance Enzymatic DNA Synthesis toward Initial Commercial Access
By Brent MacDonald – Principal @ Rising Tide VC
Molecular Assemblies announced that it closed an oversubscribed $24 million Series A financing. Proceeds of the financing will be used to advance the company’s proprietary enzymatic DNA synthesis technology toward early commercialization efforts.
Molecular Assemblies also announced the company’s participation in a new project with a multidisciplinary team, led by GE Global Research, to enable the production of DNA- and/or RNA-based vaccines and therapeutics, anywhere in the world in just days. The project is part of a new program from the Defense Advanced Research Projects Agency (DARPA) called NOW (Nucleic Acids On-Demand Worldwide). As part of the project, Molecular Assemblies will receive up to $6.5 million and contribute the company’s proprietary enzymatic DNA synthesis technology. The award is part of larger, up to $41 million project.
DNA Synthesis Inspired by Nature. In just three steps, Molecular Assemblies enzymatic process is simple, seamless and sustainable. Unconstrained by scale, format or platform, Molecular Assemblies’ enzymatic synthesis process is broadly applicable across new and emerging industries.
Synthetic DNA is used in a wide range of applications, including life science research, biologic therapeutics and diagnostics, data storage, nanotechnology, and industrial processes for agriculture, plastics, fermentation, and bio-materials, such as leather or spider silk. However, the full potential of synthetic DNA has not been realized due to the cumbersome process of chemical DNA synthesis. The current, three-decade-old method for chemically synthesizing DNA is inherently limited to relatively short DNA sequences, requires extensive post-synthesis processing, and uses hazardous chemicals. Scientists at Molecular Assemblies have pioneered a three-step enzymatic DNA synthesis process that can deliver highly-pure, sequence-specific DNA on demand, without a template, and can scale to longer DNA sequences.
DNA synthesis is a growing and potentially booming space, much like DNA sequencing in the early 2000s. We believe Molecular Assemblies’ approach in developing an enzymatic method, alongside its skilled team, makes it a compelling investment. Its potential to integrate into other DNA synthesis hardware platforms can also provide additional avenues for value creation.
The Future is in Our DNA!