Dyno Therapeutics, a Cambridge biotech that uses artificial intelligence to develop gene therapies, said Thursday that it has raised $100 million from investors.
The company uses machine learning to design a type of gene therapy “vector” — or carrier — aiming to make treatments that are easier to deliver and more effective. Dyno said the funding would speed up the development of its vectors, which can be used to target liver, muscle, eye, and central nervous system diseases. The company also plans to explore new disease areas, including those that affect the heart and lungs.
Eric Kelsic, founder and chief executive of Dyno, said in a statement that the company brings “unprecedented scale and technical sophistication to solving in vivo delivery, the key challenge for gene therapy, making therapies more effective, safe, manufacturable and capable of benefiting more patients.”
The biotech’s recent funding is more than 10 times the initial $9 million it raised from investors in a round co-led by Polaris Partners and CRV when it launched out of Harvard University in 2018. Dyno remained in stealth mode until March 2020, then quickly made a splashy debut, inking deals with pharmaceutical companies Novartis, Sarepta, and Roche. Kelsic said the financing will help the company meet the “growing demand we’ve seen from pharmaceutical companies” for its vectors.
Dyno has 50 employees, all based in Massachusetts, and it plans to triple its workforce within the next year.
The recent financing was led by venture capital firm Andreessen Horowitz, with participation from new investors including Casdin Capital, GV, Obvious Ventures, and Lux Capital.