Elegen Reels in $35M to Turbocharge DNA Synthesis

With fresh capital infusion from investors, including Triatomic Capital and GSK, Elegen is set to accelerate the production of GMP-compliant DNA for clinical use
Health & Medicine
Emerging Technologies
May 14, 2024

Elegen, a pioneer in next-generation DNA synthesis and production, has secured $35 million in Series B financing led by Triatomic Capital. The round also saw participation from strategic investors, including GSK, which recently formed a collaboration and licensing agreement with Elegen for its proprietary cell-free DNA manufacturing technology to aid in the development of vaccines and medicines. John Ballantyne, co-founder of Aldevron, also joined the investment round. Existing investors, such as Andreessen Horowitz (a16z) Bio + Health, KdT Ventures, 8VC, Digitalis Ventures, ACVC Partners, Alix Ventures, AME Cloud Ventures, and Agilent Technologies, participated as well.

Elegen Founder and CEO, Matthew Hill speaking at the SynBioBeta2024 Conference

The newly acquired funds will be used to expand Elegen’s ENFINIA™ DNA product line, aimed at providing GMP-compliant DNA for clinical development of genetic medicines. “The age of genetic medicines is here, but these powerful modalities require innovative new manufacturing approaches to supply the critical input DNA material for rapid discovery, development, and then wide-scale production,” said Matthew Hill, Ph.D., Elegen Founder and CEO. “With this investment, we will continue to push the boundaries of DNA synthesis to accelerate upstream discovery and enable rapid and streamlined deployment of new clinical modalities.”

Elegen distinguishes itself with its ability to commercially manufacture highly accurate DNA with more length, complexity, and speed compared to traditional cell-based cloning, which has been the industry standard for over 50 years. The company's platform significantly increases throughput and scalability while reducing synthesis limitations, failures, cell-based contamination, and the additional hands-on time typically required by customers.

“Elegen is poised to unlock innovation in genetic medicine with a rapid, turnkey supply of GMP-compliant DNA for research and clinical programs,” said Peter Zhou, General Partner of Triatomic Capital, who will join Elegen’s board. “Their technology platform is innovative and differentiated from other DNA synthesis providers, and we look forward to supporting Elegen’s success alongside this strong group of investors and seasoned leadership team.”

Elegen’s technology continues to evolve, offering industry-leading, flexible solutions across the DNA synthesis supply chain. Since launching ENFINIA DNA in Q1 2023, the company has offered options for higher synthesis scales starting in early Q4 2023. In March, Elegen commercialized a service for the rapid synthesis of highly complex sequences. The latest financing round further supports the company's mission to develop innovative cell-free DNA manufacturing solutions, including IVT-ready DNA, plasmid DNA, and clinical-grade DNA production.

"We are proud to continue our support of Elegen and their mission to disrupt the non-scalable status quo of clinical DNA manufacturing," said Cain McClary, Founder and Managing Partner of KdT Ventures. "Across our portfolio and the ecosystem at large, companies are underserved by current DNA synthesis offerings. We recognize the tremendous potential for their next-gen DNA manufacturing in genetic medicine and individualized patient therapy.”

“Elegen’s innovative approach to DNA manufacturing is critical to accelerating the pace of innovation, discovery, and development in areas ranging from mRNA vaccines to cell and gene therapies to CRISPR gene editing,” said Vijay Pande, Ph.D., founding general partner, a16z Bio + Health. “We believe the differentiation and scalability of Elegen’s platform will be transformative in healthcare applications and beyond.”

Related Articles

No items found.