UK Innovation & Science Seed Fund (UKI2S), Catapult Ventures’ GM&C Life Sciences Fund and Jonathan Milner have invested in Pencil Biosciences, a novel gene modulation company based in Cheshire, UK.
A further investment by o2h Ventures anticipated shortly will complete a seed round of £500,000 ($667,000) that will enable Pencil to establish proof of concept for its gene modification technology.
Pencil Biosciences aims to develop a novel, programmable genome-modulation tool that it says overcomes the challenges associated with the technologies currently available.
This latest funding round follows shortly after a recent grant from the UKI2S Innovate Accelerator in November this year. The company was awarded around £200,000 ($266,000) early-stage funding by the Accelerator to develop their technology.
“Pencil Biosciences has ambitious plans to develop a truly innovative gene modulation technology that could have impacts across a range of applications, including new therapeutic options for patients with rare diseases,” said Jon Moore, Executive Chair of Pencil Biosciences. “We see the facilities and supportive network available at Alderley Park as a key driver of our future success.”