Sherlock Biosciences Raised $80M for Series B Funding

Sherlock BiosciencesA Boston, MA-based company that specializes in biology diagnostics, has raised $80M through Series B funding Novalis LifeSciences was the lead and included participation from Illumina Ventures Capital, Albany Capital and Catalio Capital Management. Paul Meister (Partner at Novalis LifeSciences), will be joining Sherlock Biosciences’ Board of Directors. The funds will be used by the company to expand its products and to strengthen partnerships. Sherlock Biosciences, led by Bryan Dechairo, is an engineering company that uses biology to bring next-generation diagnostics right to the point of need. Powered by CRISPR and synthetic biology, Sherlock’s proprietary engineering biology tools form the foundation of its decentralized diagnostic platform for DNA and RNA detection. Through its engineering biology tools, CRISPR-based SHERLOCK™ and synthetic biology-based INSPECTR™, the company brings together the accuracy of PCR with the convenience of antigen tests for molecular diagnostics at the point-of-need. SHERLOCK, INSPECTR are easy to use without the need for complex instrumentation. This makes them well-suited for home and low resource settings. It opens up many possibilities in areas such as infectious disease, early detection and treatment monitoring, precision medicine, and precision medicine. CRISPR technology was first FDA-approved use by the company in 2020.