PhD | Director Therapeutic Innovation and BaseLaunch
Tel. +41 61 295 50 17stephan. emmerth@baselarea. swiss
The US venture capitalist Versant Ventures, which has offices in Basel, has invested in Repare Therapeutics as the lead investor in a financing round. The start-up company works in a new field of cancer research, synthetic lethality.
Versant Ventures has supported Repare Therapeutics for some time, and has now made a significant investment as part of a new financing round. The company secured USD 68 million from the investors, announced a statement.
Repare Therapeutics works in the field of synthetic lethality, an innovative approach that uses genetic changes in tumour cells as a point of attack for new drugs. These changes make the tumour cells weaker, allowing them to be killed.
Over the past 18 months, Repare Therapeutics has developed its own platform for synthetic lethality drugs using CRISPR technology. According to CEO Lloyd Segal, two product candidates could enter clinical development in 2019 or at the start of 2020.
Versant secured numerous investors for the financing round. With its presence in Basel, the venture capitalist is among Europe’s most active biotechnology investors. At the start of the year, it expanded its infrastructure in Basel, founding Baseline Therapeutics. The aim of the project is to outsource innovations devised by leading European scientists to biotech start-up companies.