Exclusive: Weeks after $213M launch, Tome acquires a Berkeley gene editing startup for DNA ligase technology
Less than a month after launching with $213 million in funding, gene editing company Tome Biosciences has acquired a tiny Californian startup called Replace Therapeutics to expand its repertoire of DNA-altering tools. Tome will pay Replace $65 million in upfront and near-term milestone payments and up to $185 million total in stock and cash, the company told Endpoints News.
Tome was founded by a pair of MIT scientists who developed a twist on CRISPR gene editing technology, inserting large DNA sequences that are thousands of letters long into precise locations in the genome. Tome’s new technology from Replace is better suited for making smaller changes to the genome on the order of tens to hundreds of letters, the startup said.
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