Pencil Biosciences, a MedTech company specializing in gene-editing technology, has secured seed financing of £5.6 million. The company is developing a synthetic gene-editing platform with potential applications in treating rare diseases, cancer, infectious diseases, and agriculture and cell line engineering.
New investors Octopus Ventures, Northern Gritstone, and Martlet Capital join existing investors such as Catapult Ventures, UKI2S, and Jonathan Milner in the round. SyndicateRoom’s Access also provided additional support.
Pencil Biosciences was founded in 2019 by Dr Rajik Ibrahim, Dr Timothy Schulz-Utermoehl, and Dr Martin Quibell. They are now led by CEO Dr Amanda Smith, along with primary founder and CTO Dr Ibrahim and chair Dr Jon Moore.
“Our ambition is to develop a truly innovative and unique gene modulation technology that catalyzes innovation across a range of applications, including new therapeutic options for patients with rare diseases and cancer,” said Dr Smith. “This investment brings us closer to achieving our goals.”
According to Oliver Sims, an investor at Octopus Ventures, Pencil Biosciences’ technology has the potential to impact therapeutics, research tools, and industrial applications. Duncan Johnson, CEO at Northern Gritstone, is likewise excited to work with the Pencil Biosciences team as they develop their gene-editing platform that could transform treatment for patients with rare diseases.
In the competitive MedTech industry, Pencil Biosciences’ synthetic gene-editing platform offers a unique solution for addressing a variety of diseases and disorders. We look forward to seeing their continued success in developing innovative and impactful technologies.