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Star-Studded Mammoth Bio Raises $45 Million for Crispr R&D

Star-Studded Mammoth Bio Raises $45 Million for Crispr R&D

(Bloomberg) -- Mammoth Biosciences Inc. has raised another $45 million to push forward on plans to develop tests using the latest in the gene-editing technology known as Crispr.

The oversubscribed investment was led by Decheng Capital with participation from Mayfield, NFX, Alphabet Inc.’s health arm Verily, and venture capitalist Brook Byers bringing Mammoth’s funding to date to $70 million. Apple head Tim Cook participated in the prior funding round as did former Grail Chief Executive Office Jeff Huber, who has also joined the California-based company’s board.

Star-Studded Mammoth Bio Raises $45 Million for Crispr R&D

Mammoth is co-founded by gene-editing pioneer Jennifer Doudna and is supported by members of her lab. The company is looking at a newer protein for targeting genes known as CRISPR-Cas14, which is smaller than the more widely known research target CRISPR-Cas9.

While Crispr often draws comparisons to a pair of scissors that allow scientists to remove or replace precise sections of DNA, Mammoth Chief Executive Officer Trevor Martin prefers to think about it as “a search engine,” expanding the definition beyond the therapeutics currently being looked at in humans into diagnostics.

The technology could even be used to find DNA and RNA and then destroy it, creating an antibiotic of sorts, Martin said in a phone interview. With a license deal already in hand with London-listed Horizon Discovery Group, Mammoth is in talks with other potential partners as it seeks to bring the new technology to market. Martin sees companies with clinical trial experience as ideal partners.

Huber, who considers himself as an adviser as well as an investor, said Mammoth has had exploratory talks with the Silicon Valley biotech startup Grail, where he remains a board member. But other things have come up and taken priority as Grail pursues its blood-based cancer test and Mammoth pursues its near-term goals.

To contact the reporter on this story: Cristin Flanagan in New York at cflanagan1@bloomberg.net

To contact the editors responsible for this story: Catherine Larkin at clarkin4@bloomberg.net, Jennifer Bissell-Linsk

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