Gene editing delivery biotech GenEdit partners with Genentech, raises another $24M

GenEdit, a gene editing delivery biotech, has partnered with Genentech, a member of the Roche Group, to discover and develop novel nanoparticles capable of delivering gene editing therapies. The collaboration is worth up to $644 million, with Genentech paying GenEdit $15 million upfront and potentially $629 million in milestone payments.

GenEdit's non-viral delivery platform, called NanoGalaxy, uses non-viral, polymer nanoparticles to deliver gene editing therapies. The platform aims to overcome the limitations and safety concerns of current approaches by offering payload flexibility, tissue selectivity, and the ability to re-dose while maintaining low immunogenicity. Genentech will use the NanoGalaxy platform to advance its autoimmune pipeline.

In addition to the Genentech partnership, GenEdit has also raised another $24 million in funding. The company has previously collaborated with Sarepta, which paid GenEdit $57 million in near-term payments and agreed to significant milestone payments. Other investors in GenEdit include Eli Lilly, which backed the biotech as part of a $26 million Series A financing round in September 2021.