The Rapid Growth of CRISPR Startup Mammoth Biosciences

The Rapid Growth of CRISPR Startup Mammoth Biosciences

Is Mammoth Biosciences the cure to our genetic problems?

Biotech startup Mammoth Biosciences ‌officially achieved “unicorn” status in September 2021. After securing US$195 million in funding, it now has a total valuation of more than US$1 billion. 

The financing for the California-based company comprises a US$150 million in its Series D round, following a $45 million in Series C funding in late 2020 led by venture capitals and investment firms.

The company will use the funds to expand and develop its stable of next-generation CRISPR products to detect and cure diseases. Its goal is to develop permanent genetic cures through in vivo and ex vivo gene-editing therapeutics and democratize disease detection with on-demand diagnostics.

What is CRISPR? 

An acronym for “clustered regularly interspaced short palindromic repeats”, CRISPR is a technology that can be used to edit genes by removing, adding or altering sections of the DNA sequences, not dissimilar to a pair of biological scissors. It is now considered one of the fastest, cheapest and most accurate techniques to edit DNA and potentially cure diseases.

One of Mammoth Biosciences’ founders, Jennifer Doudna, actually pioneered the CRISPR technology. She won the Nobel Prize in Chemistry in 2020 for her work eight years ago by demonstrating CRISPR could be used to cut and edit DNA.

How did Mammoth Biosciences grow?

During the pandemic, Mammoth teamed up with Agilent Technologies, a leading American company in the life sciences and diagnostics markets, to help launch its upcoming COVID-19 diagnostic test. It was designed to handle more than four thousand samples every day. Mammoth was the first biotech company to demonstrate CRISPR-based detection of SARS-CoV-2 in patient samples with its DETECTR™ platform, which could identify the specific genomic sequences of the coronavirus.

With increased funding, Mammoth’s therapeutic pipeline would only continue to grow. New financing would continue to fuel the company’s efforts to build “permanent, one-time cures and decentralized molecular diagnostics” enabling accurate, affordable and actionable results for patients and consumers. 

Potentials of CRISPR technology

While Mammoth Biosciences is one of the few CRISPR-based companies that have achieved unicorn status, it is not the only one that has attained remarkable achievements. CRISPR Therapeutics and Vertex Pharmaceuticals have announced that they have successfully undergone trials on CRISPR-based beta-thalassemia and sickle cell treatments, curing patients after editing their genes with CRISPR-Cas9 technology. Another company, Intellia Therapeutics, which was also founded by Doudna, has discovered that by injecting CRISPR treatment directly into the body, a gene that causes liver disorders can be silenced. 

Other recent health tech breakthroughs

Health tech startups have received much recognition, especially during the COVID pandemic. Many investors have realized the transformative potential of med-tech startups. Cue Health has achieved profitability in 2020 by providing portable COVID-19 testing kits, which can test for signs of COVID using a nasal swab. San Francisco-based Innovaccer’s Data Activation Platform unifies patient records and helps healthcare providers ‌transform care delivery. China’s largest online healthcare platform JD Health raised more than US$3 billion during 2020 by creating a comprehensive online healthcare system that creates a holistic service catering to customers’ wide range of healthcare needs.

Header image courtesy of Unsplash

SHARE THIS STORY

Share on facebook
Share on twitter
Share on linkedin
Share on email

RELATED POSTS

Cultos Global Lands Major Investment to Advance Web3 Brand Engagement Solutions

Cultos Global Lands Major Investment to Advance Web3 Brand Engagement Solutions

Dubai-based Web3 company, Cultos Global, has recently acquired substantial investment in its latest funding round. The specific amount remains undisclosed. This venture specializes in altering the dynamics of brand-customer relationships by launching a sophisticated, integrated platform that intertwines digital marketing and customer rewards, converting conventional consumers into active nano-influencers.

Navigating the Growing Crisis of Space Debris

Orbital Fallout: Navigating the Growing Crisis of Space Debris

Ever since we stepped into the space age back in the 1950s, we’ve been busily sending rockets and satellites up, up and away, painting our mark way beyond our planetary borders. But here’s the thing—our ventures have left the cosmos littered with about 2,000 operational satellites and another 3,000 that are just space junk now.

Pryon Secures US$100 Million in Series B to Advance AI in Knowledge Management

Pryon Secures US$100 Million in Series B to Advance AI in Knowledge Management

Pryon Inc., a North Carolina-based company specializing in integrating artificial intelligence (AI) with knowledge management, has completed a Series B investment round, raising US$100 million. The funding was led by Thomas Tull’s US Innovative Technology Fund (USIT), with contributions from both new and existing investors, including Aperture Venture Capital,

Amazon Launches Upgraded AI Enhanced Fire TV Sticks

Amazon Launches Upgraded AI Enhanced Fire TV Sticks

Amazon has rolled out a series of updates to its Fire TV offerings. The new features include an improved conversational voice search powered by generative AI and Fire TV Ambient Experience advancements. Among the latest hardware releases are the Fire TV Stick 4K Max and the Fire TV Stick 4K, incorporating the enhanced Fire TV Ambient Experience.

Interactive Learning with Augmented Reality

Interactive Learning with Augmented Reality: Applications, Benefits and Challenges

Ever wondered what it would be like if your textbooks could talk, if the illustrations in your lessons could come to life, or if you could step into history rather than just read about it? Welcome to the world of augmented reality (AR) in education! Like a magic wand, AR can turn the abstract into tangible and the mundane into extraordinary, unfolding boundless educational possibilities.