Edinburgh-based biotech startup Concinnity Genetics has successfully closed an oversubscribed €3.6 million seed funding round.
The investment was led by Eos Advisory, with participation from Scottish Enterprise, Old College Capital—the University of Edinburgh’s venture investment fund—and Maven Capital Partners.
This funding will also enable Concinnity to spin out from the lab of Professor Susan Rosser and the UKRI UK Centre for Mammalian Synthetic Biology at the University of Edinburgh and establish operations in Scotland’s life science hub.
“We are so excited to be taking the next step in our spin-out journey and want to sincerely thank all the investors and supporters who have helped us make it happen. Our ambition is to be the go-to partner for gene control to make gene and cell therapies as safe as possible,” said CEO Jessica Birt. “This commitment from our investors, building on the ongoing support from Scottish Enterprise, speaks to the potential they see in our work, and we look forward to using the funding to further develop our technology.”
Co-founded in 2023 by CEO Jessica Birt and CSO Dr Matthew Dale, Concinnity Genetics is a spinout from the University of Edinburgh. The company focuses on developing novel control mechanisms that allow precise regulation of gene therapies even after administration.
By integrating synthetic biology with AI, their technology enables gene therapies to adjust dynamically, potentially reducing side effects and enhancing therapeutic outcomes.
The funds are earmarked to initiate three new programmes developing ribonucleic acid (RNA)-based control systems targeted at key applications within the cell and gene therapy market, as well as continuing to develop Concinnity’s existing control systems with the aim of obtaining critical data to initiate partnerships with customers.
Andrew McNeill, Managing Partner at Eos Advisory, commented: “Concinnity is a perfect fit for Eos’s focus on backing pioneering Scottish science, addressing a significant unmet need in gene therapy. By combining synthetic biology and AI-machine learning, the Concinnity technology has been described as the ‘holy grail for emerging gene therapies’, making such treatments both more effective and safer.”
Over the past two years, Concinnity has been supported by Scottish Enterprise as part of its High Growth Spinout Programme. This funding has enabled the team to develop its technology, generating data for commercial validation that has supported the successful completion of this seed investment.
“This investment round clearly demonstrates the huge potential of Concinnity’s technology, which has been recognised by investors. Scottish Enterprise has supported the team since its beginnings within the University of Edinburgh, so it’s fantastic to now be investing in it as it prepares to spin out,” said Kerry Sharp, Director of Entrepreneurship and Investment at Scottish Enterprise. “Life sciences is one of Scotland’s key growth industries and our investment and ongoing business support will help Concinnity convert and scale its innovation into international growth, delivering maximum benefits for Scotland’s economy.”
Concinnity Genetics represents an advancement in the field of gene therapy, with its AI-driven RNA control systems potentially setting new standards in treatment safety and efficacy.
Read the orginal article: https://www.eu-startups.com/2024/12/smart-genes-smarter-funding-concinnity-genetics-raises-e3-6-million-in-funding-to-develop-gene-therapy/
