InVivo Biosystems Raises $3M Round
Wednesday, January 3rd, 2024
InVivo Biosystems Secures New Investment to Accelerate CRISPR Innovation & MedTech Innovation
Eugene, Ore. – January 3, 2024 – InVivo Biosystems, experts in CRISPR-edited animals for biomedical discovery, today announced $3M in new investment in furtherance of the company’s mission to revolutionize drug discovery leveraging its extensive intellectual property in genetically modified organisms. Rogue Venture Partners led the new investment round that included Portland Seed Fund, ONAMI, and Launch Oregon to fund further CRISPR commercialization.
The Company also announced the appointment of C. Palani Palaniappan, Ph.D. to Chairman of the InVivo Biosystems Board of Directors, effective December 8, 2023. Palaniappan brings considerable experience in life science global innovation and commercialization, as well as experience on various life science corporate boards.
“The new investment in our corporate vision at a time when CRISPR’s capabilities are going to transform therapeutic outcomes is worldwide news. The investment will fuel existing innovation initiatives and new breakthrough capabilities,” said Matt Beaudet, Chief Executive Officer, InVivo Biosystems. “The financial infusion coupled with the appointment of new Board Chairman C. Palani Palaniappan puts the Company in an exciting position to make even further breakthroughs in 2024.”
C. Palani Palaniappan shared his perspective on the Invivo Biosystems opportunity, “The transformative power of CRISPR in real world applications is becoming evident through recent drug approvals in curing sickle cell anemia or many forms of blood cancer are paradigm changing concepts of ‘living drugs.’ InVivo’s core IP and expertise in CRISPR gene engineering in model organisms is helping accelerate drug discovery with both rapid turnaround and affordability. It offers a compelling case for many biotech and pharma partners to capitalize on. I am thrilled to support the InVivo Biosystems team alongside the other accomplished board members to realize the full potential of CRISPR capabilities in revolutionizing medical innovation for the 21st Century.”
Most recently InVivo Biosystems has seen its solutions validated via new technology patents and key grants for further product development.
- Funding for AI-based Monitoring of Zebrafish: InVivo Biosystems was awarded a $2.8M Fast-Track SBIR grant from the NIH to create an automated, AI-based monitoring system for zebrafish in its home tanks, easing the burden on facility managers and enabling enhanced reproducibility of scientific results. This is particularly important for combining this technology with genome-edited fish that recapitulate human diseases, allowing for automated deep phenotyping that can aid in drug discovery efforts.
- Licensing of a High Throughput CRISPR Technology: the University of Utah issued an exclusive license to InVivo Biosystems for a new CRISPR enabling technology named MIC-Drop. The technology partitions CRISPR reagents into microfluidic droplets, enabling multiplexed creation and delivery of genetic knockouts in vivo. The technology mimics a traditional forward genetic screen for the identification of targets, combining that with intelligent design and intentional selection of genes and subdomains.
- Granting of an Innovative Patent for Animal Humanization: InVivo Biosystems was granted a patent on its technology to create transgenic research animals bearing human versions of disease-causing genes. This innovative patent increases the translational potential for discovering new target-based drugs in animal models with completely orthologous targets or binding domains.
InVivo Biosystems
Eugene, Ore.-based InVivo Biosystems, experts in CRISPR genome editing, provides end-to-end preclinical services to help pharmaceutical, nutraceutical, biotechnology companies and academic research institutions around the globe accelerate research and drug development efforts. The company’s mission is to build the world’s most effective genetic animal models to advance human health. With its CRISPR genome editing platform, InVivo Biosystems creates custom genome-edited C. elegans and zebrafish models for preclinical studies and drug discovery. In addition, InVivo Biosystems provides in-vivo analytical services to produce data and insights for companies to help accelerate decision making in the early-stage development of new compounds. For more information, visit http://www.invivobiosystems.com.
