VedaBio has launched from stealth mode alongside an initial funding of more than $40m backed by lead investor OMX Ventures, with the company saying it is poised to drive a new way of molecular detection.

The company debuted with CRISPR Cascade – a platform that can detect genetic code without the need for target amplification. Target amplification – the most common type being polymerase chain reaction (PCR) – is usually needed to make more copies of nucleic acid so it can be detected.

According to US-based VedaBio, its platform maintains PCR-level accuracy whilst eliminating the need for an amplification step. The company says the analytical turnaround time for the detection platform is less than one minute.

Molecular testing is used for diagnosis of certain conditions or utilised to predict risk of future disease.

VedaBio co-founder and CEO Anurup Ganguli said: “With the CRISPR Cascade reaction, we have unlocked the true power of CRISPR with a platform that delivers near-instant molecular detection of highly multiplexed analytes.”

Ganguli added that the platform could help make strides in research and industrial tools, in addition to diagnostics and therapeutics.

The CRISPR-enabled molecular detection space saw significant attention when Mammoth Biosciences was given an early use authorisation by the US Food and Drug Administration (FDA) for its CRISPR-based SARS-CoV-2 molecular assay. According to GlobalData’s deal database, Mammoth Biosciences has raised around $263m in seed financing.

Sherlock Biosciences, also a market player that has amassed over $110m in funding, opened a new UK biomanufacturing facility in August 2023.