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Desktop Genetics Ltd.. (10/4/17). "Press Release: Desktop Genetics Opens £1.5 Million Investment to Support Growth". London.

Organisation Organisation Desktop Genetics Ltd. (DGT)
Products Product bioinformatics (biological software and databases)
  Product 2 crowdfunding
Persons Person Milner, Jonathan (Abcam 201409 Deputy Chairman + largest shareholder before CEO + Co-founder)
  Person 2 Doyle, Riley (Desktop Genetics Ltd 201308 CEO)
     


Desktop Genetics Ltd (DTG), a software company revolutionising the way biologists use CRISPR genome editing technology, and online investment platform SyndicateRoom today announce the opening of a £1.5 million investment round. DTG plans to use the funds to commercialise products and support its expansion into the US.

DTG uses artificial intelligence (AI) to enable scientists and researchers to capitalise on genome engineering technology. Since its launch in 2012, the company has developed an industry-leading software platform to design and manufacture CRISPR1 genome editing reagents, and has developed and refined products which are now ready for launch.

The genome engineering market is estimated to be worth approximately $2.84 billion globally, and set to grow to more than $6 billion by 2021, by which time it is estimated that between 60,000 and 100,000 labs will be using CRISPR technology. Despite this, over half of all new medicines in development today are likely to never reach patients, often because they are based on flawed science. DTG believes that the advances in both AI and CRISPR can together help solve this problem by enabling higher confidence in preclinical development programmes.

“Desktop Genetics has proven its ability to deliver value to customers, and has established a strong pipeline, with key research milestones hit since the 2015 investment round. This funding round provides a great opportunity as we gear up for further growth, resourcing future initiatives, hiring new team members and launching fresh products,” commented Riley Doyle, CEO, DTG. “We’re excited to open up this opportunity and welcome investors to join us on our path to success. With its extensive experience in the biotech space, SyndicateRoom is the ideal partner to connect us to those investors.”

Jonathan Milner, lead investor in Desktop Genetics, and Co-Founder and Deputy Chairman of Abcam plc, said: “Desktop Genetics’ management team has established a lucrative niche in the industry, which has seen the company make a real impact for researchers working with CRISPR technology. I am pleased to be leading this next round of investment and look forward to helping guide the next stage of the company’s growth.”

Desktop Genetics’ use of AI in customising CRISPR Libraries is enabling more efficient drug discovery, genomics and cell therapy – which is a massive step towards the reality of genomic medicine,” commented Tom Britton, CTO and Co-founder, SyndicateRoom. “We’re pleased to welcome the Desktop Genetics team to the SyndicateRoom platform as yet another young British business doing great things in a bid to make the world a better place.”


Notes to editors

1 CRISPR (Clustered Regularly Interspaced Short Palindromic Repeats) technology is a system which allows for permanent manipulation of genes in living cells and organisms, and is being explored as a method to correct the human genome for treatment of genetic diseases. CRISPR technology is credited for driving the growth in the genome engineering market.

ENDS


For further information please contact:

SyndicateRoom
Katie de Cozar Rushforth
+ 44 (0) 7557 307 769
katie.decozar@syndicateroom.com

Zyme Communications
Lorna Cuddon
+44 (0)7811 996 942
lorna.cuddon@zymecommunications.com


Desktop Genetics
Victor B Dillard
COO and Founder
victord@desktopgenetics.com


Notes to Editors


About Desktop Genetics www.deskgen.com

Desktop Genetics is a recognised leader in CRISPR technology, staffed by a team of genome editing experts, bioinformaticians and data scientists, driven by the real-world impact of CRISPR technology. The Company provides genome editing products and services to pharmaceutical, academic and biotechnology customers globally. Desktop Genetics' tools and technologies have been used by over 1800 organisations all over the world. Their projects have directly contributed to several key programmes to bring genome editing into the clinic.The Company has received awards from MIT Technology Review, Forbes, Fast Company and SxSW.


About SyndicateRoom

SyndicateRoom connects ambitious investors with the country’s most trailblazing companies. Started in 2013, SyndicateRoom has rapidly grown to have more than 100 high-growth businesses in its portfolio. By relentlessly focusing on the interests of private investors, SyndicateRoom has developed a trusted reputation and has been recognised as Best Investment Platform at the Growth Investor Awards two years running. For more information please visit: https://www.syndicateroom.com/

   
Record changed: 2017-10-04

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More documents for Desktop Genetics Ltd. (DGT)


To get even more information, please take a look at our [gs] professional services offering and read the gene-sensor Product Flyer [PDF file]

Please visit also our web portals for the life sciences in German-speaking Europe (DE, AT & CH) and the worldwide mass spectrometry industry at Life-Sciences-Germany.com (life sciences in German-speaking Europe) and Mass-Spec-Capital.com (worldwide mass spectrometry)

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