Recombinetics Raises $11M In Oversubscribed Investment Round
Recombinetics, a cutting edge gene-editing startup in St. Paul, closed an $11 million fundraising round. The company said Monday that it originally aimed for a $10 million raise, but investor demand pushed the common stock offering over its goal.
The recent raise pushes Recombinetics’ lifetime financing total beyond $24 million.
Company founder Scott Fahrenkrug told TCB in August that this round of financing would go toward ramping up its commercialization efforts after making major advances in its three business divisions: Acceligen (animal health), Surrogen (human medical research) and Regenevida (regenerative medicine).
Recombinetics, founded in 2008, specializes in genetic modification of pigs for the use of improving livestock production, developing human organs, and other uses. The company has ties to the University of Minnesota and Mayo Clinic.
In addition to its successful fundraising round, Recombinetics also locked down a deal for Capitol Peak Asset Management LLC to be its advisor for all future capitalization and strategic transactions.
Capitol Peak maintains some involvement within the human health and agriculture space. The Denver-based advisor also manages a $10 billion rural infrastructure investment fund that was created by farming-focused bank CoBank and the U.S. Department of Agriculture.
“Recombinetics is a recognized leader in the development and deployment of gene-editing technologies to advance human health and animal welfare,” said Capitol Peak executive chairman Leo M. Tilman in prepared remarks. “Capitol Peak is thrilled and privileged to be [Recombinetics’] advisor and partner as the company continues to commercialize transformative gene-editing capabilities across biomedicine, regenerative medicine and agriculture.”