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28 November 2017

Envisagenics details $2.25m seed round

The precision medicine research spinout from Cold Spring Habor Laboratory has secured seed capital in a round led by Dynamk Capital.

Author: Callum Cyrus, reporter

Envisagenics, a US-based precision medicine research spinout from Cold Spring Harbor Laboratory, secured $2.25m in a seed round today led by VC fund Dynamk Capital.

Dynamk committed $500,000 to the round, investing alongside a group of unnamed private investors.

Founded in 2014, Envisagenics has developed a drug discovery platform that aims to provide researchers with an easier way to identify disease biomarkers and targets.

The computer simulation service uses machine learning to analyse the genetic script for ribonucleic acid (RNA) deformities called splicing errors that have been linked to human diseases.

Cold Spring Harbor Laboratory is a non-profit research complex focused on molecular biology, neuroscience and genetics.

After receiving a PhD from the institution, Maria Pineda co-founded Envisagenics alongside Martin Akerman, who had conducted research for Cold Spring's RNA sequencing program. Pineda acts as chief executive while Akerman is chief technology officer.

Envisagenics received an undisclosed sum in April 2017 from Breakout Labs, an early-stage investment arm of Thiel Foundation, the private office of online payment processing firm PayPal co-founder Peter Thiel.

Deals database PitchBook suggests the April round was in the form of $2.5m in convertible debt and named VC fund Dolby Family Ventures as an additional investor.

Maria Pineda said: “It is great to have the support of established female investors with the experience to scale companies and accelerate drug discovery.”

“It is exciting to be part of the changing landscape of venture investments in female founders.”

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