InVivo Biosystems Raises $3M for CRISPR Research and Welcomes New Board Chairman
InVivo Biosystems, operating in the realm of CRISPR-edited animal models for biomedical research, has recently embarked on a new phase of growth and innovation. The Eugene, Oregon-based company has secured a notable $3 million investment, a collaborative effort led by Rogue Venture Partners with significant contributions from Portland Seed Fund, ONAMI, and Launch Oregon. This influx of capital is earmarked for the acceleration of CRISPR technology commercialization, positioning InVivo Biosystems at the forefront of advancements in drug discovery.
In a strategic move paralleling this financial boost, InVivo Biosystems has also brought on board Dr. C. Palani Palaniappan as Chairman of its Board of Directors. Dr. Palaniappan, whose tenure began on December 8, 2023, is distinguished by his extensive background in global life science innovation and commercialization, as well as his experience on various life science corporate boards. His expertise is expected to be pivotal in steering the company's strategic decisions.
The timing of these developments coincides with a growing global recognition of the potential of CRISPR technology in transforming therapeutic outcomes. Matt Beaudet, CEO of InVivo Biosystems, regards the investment and leadership addition as key catalysts for the company's innovative pursuits in the upcoming year. He anticipates these changes to significantly bolster the company's capabilities in CRISPR research and application.
Adding to the momentum, Dr. Palaniappan's perspective on the role of CRISPR in medical innovation highlights the transformative power of this technology. He points to the recent approvals of drugs for conditions like sickle cell anemia and various blood cancers as indicators of the far-reaching impact of CRISPR. With InVivo Biosystems' core intellectual property and CRISPR expertise, the company is poised to play a critical role in expediting drug discovery processes, offering efficient and cost-effective solutions for biotech and pharmaceutical collaborations.
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Recent technological advancements and intellectual property acquisitions at InVivo Biosystems further underscore the company's commitment to innovation in this field. Notably, the company has been awarded a $2.8 million Fast-Track SBIR grant from the NIH for the development of an AI-based monitoring system for zebrafish. This system promises to enhance the management of research facilities and improve the reproducibility of scientific results, particularly in genome-edited fish models that replicate human diseases.
Moreover, InVivo Biosystems has obtained an exclusive license for MIC-Drop, a pioneering CRISPR technology, from the University of Utah. This technology enables the creation and delivery of genetic knockouts in vivo, integrating traditional genetic screening methods with a more intelligent selection of genes. Furthermore, the company has secured a patent for its innovative method of creating transgenic research animals. These animals bear human versions of disease-causing genes, a breakthrough that could be crucial in developing new target-based drugs.
Topics: Biotech
