Morrisville-based Locus Biosciences Raises $7 Million

10/2/17

By Addison Lalier, NC BIZ News

A Morrisville-based biotechnology company has raised $7 million in an equity offering, according to a filing with the Securities and Exchange Commission.

Locus Biosciences Inc. is an emerging biotech company focused on the discovery and development of antimicrobial applications through the use of CRISPR/Cas technology. This platform helps create therapeutics for critical disease areas, such as resistant bacterial infections.

The biotech company intends to raise a total of $14 million, with $7 million remaining to be sold, through two investors.

Locus Biosciences is led by CEO and co-founder Paul Garofolo. Other co-founders include Dr. Rodolphe Barrangou, Dr. Charles Gersbach, Dr. Dave Ousterout and Dr. Chase Beisel.

“As the only company in the world using CRISPR-Cas3 enzymes to kill targeted pathogens, we believe Locus could have the world’s most powerful mechanism of action to drive programmed cell death in bacterial targets,” said Garofolo in a statement. “Not only could this technology revolutionize the way we treat multi-drug resistant infections in patients, but it could also catalyze a novel and powerful approach to changing the human microbiome.”

Companies relying on a Reg D exemption do not have to register their offering of securities with the SEC, but they must file what’s known as a Form D electronically with the SEC after they first sell their securities.

The filing can be found here.

It's on us. Share your news here.

Submit your stories and articles to citybizlist today.