Spin-out to 'accelerate' gene-editing tool

A biotech spin-out is set to expand rapidly following new investment.

Forge Genetics, a University of Nottingham spin-out, has raised £2 million from the Midlands Engine Investment Fund II through fund manager Mercia Ventures. 

Bosses say the funding will accelerate the commercial development of Forge’s novel gene-editing tool, which is currently being applied to bacteria strains for pharmaceutical and biotechnology companies, with plans underway to adapt the tool for use in human and animal cells.

They add that the company, based on the university campus, aims to double its ten-strong team over the next two years.

Dr Craig Woods, co-founder and chief executive of Forge Genetics, said: “The Forge editing tool was designed to overcome the challenges in editing more exotic strains of bacteria and opens up potential for new drugs and other products. 

“The funding will enable us to expand our business more quickly and adapt it for human cells. 

“By offering an alternative to existing gene-editing tools, we also hope to boost uptake of this exciting new technology.”

Hannah Tapsell, investment manager at Mercia Ventures, added: “The Forge Genetics team have a strong technical reputation and we have been impressed by the rapid commercialisation they have already achieved. 

“While there is a lot of potential to scale their existing business, there is also an exciting opportunity to expand into other areas and, in particular, to create a new and safer option for editing human genes.”

Forge’s platform offers advantages over CRISPR, the established gene-editing system. 

Its precision targeting improves bacterial cell survival during editing and enables use across a wider variety of bacterial strains. 

The technology may also provide a safer method for editing human cells, detecting unwanted DNA mutations and filtering out damaged cells.

CRISPR has been widely used in research for more than a decade, with its first clinical application for sickle cell disease approved in 2023, though the cost can exceed £1.65 million per patient. 

The £400 million Midlands Engine Investment Fund II, operated by the British Business Bank, provides debt finance of £25,000 to £2 million and equity investment up to £5 million to help Midlands-based small and medium-sized businesses start, grow or innovate, aiming to boost sustainable economic growth, increase early-stage funding availability and improve access to finance for firms that might otherwise miss out.

David Tindall, senior investment manager at the British Business Bank, added: “It’s inspiring to see the Midlands Engine Investment Fund II empowering pioneering businesses like Forge Genetics, who are breaking new ground in their sector. 

“The fund was established to support exactly this kind of innovation, and we’re proud to play a role in their journey of growth and impact.”

Looking to promote your product/service to SME businesses in your region? Find out how Bdaily can help →