Each week, Medical Device Network selects a deal that illustrates the themes driving change in our sector. It may not always be the largest deal in value, or the highest profile, but it will tell us where the leading investors are focusing their efforts, and why. This new, thematic deal coverage is driven by our underlying Disruptor data which tracks all major deals, patents, company filings, hiring patterns and social media buzz across our sectors.
The deal
Camena Biosciences has reeled in $10 million from investors to continue development of its DNA synthesis platform, gSynth.
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Why it matters
Synthetic genes are widely used by researchers to understand the mechanisms of disease, and in the drug discovery process to combat them. However, there are considerable problems with traditional DNA synthesis methods such as cost, time and accuracy, particularly when creating long or complex sequences of genes. Camena’s technology aims to address these limitations by using a novel enzymatic technology to accurately produce synthetic DNA.
The demand for synthetic genes is rapidly increasing and Camena’s technology is a potential game changer that could tap into a much bigger global market. The Cambridge, UK-based company is one of the first developers to pioneer this enzyme-based DNA synthesis technology and has already signed several commercial agreements with consumers of synthetic genes, securing a multi-million-pound revenue stream in 2022.
Overall, the synthetic biology market is heating up. In May, DNA Script, the worldwide leader in Enzymatic DNA Synthesis (EDS) technology launched its fully automated SYNTAX DNA printing platform during the global SynBioBeta 2023 Conference.
The detail
The Series A funding round was led by asset management firm Mercia. Camena said funds will be used to scale operations and continue development of gSynth. The company has also added key appointments to its board of directors.
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By GlobalDataInvestors may have been particularly attracted to the fact that Camena’s enzymatic technology avoids solvent use which is required in traditional techniques but can be hazardous. As a focus on sustainability and supply-chain security becomes more acute, Camena could be a key player in the market due to its green synthesis technology.
