Cambridge, UK-based Evonetix was founded in 2015 with a focus on synthetic biology. In 2018, a Series A round raised $12.3 million and now the firm has raised $30 million in a Series B investment, led by west-coast investor Foresite Capital. The funding will be used to accelerate internal technology development, including the integration of Evonetix’s technology to enable the synthesis of DNA on a chip. Synthetic biology has the potential to deliver a wide range of new and innovative products to several industries including the discovery of new medicines and improved bioprocessing capabilities for the pharmaceutical industry. For example, many of the most fundamental processes in the discovery and development of therapeutic proteins, in particular monoclonal antibodies, rely on synthetic DNA. The ability to rapidly and rationally generate diversity for in vitro antibody discovery allows, for example, the creation of in silico designed libraries that harness the power of bioinformatics, allowing for screening guided by protein structural expertise, thereby facilitating the discovery and development of novel therapeutic proteins with desirable properties.
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