Constructive Bio Secures $58 Million in Series A Financing

• Financing led by Ahren, OMX Ventures and Paladin Capital Group represents one of the largest UK biotech Series A rounds in recent years

• Paladin Capital, Fine Structure Ventures, +ND Capital and Abcam-founder Jonathan Milner join as new investors

• Sir Gregory Winter, Nobel Prize winner and Ahren Science Partner, to join Constructive Bio board

[24.09.2024] - Cambridge, UK: Constructive Bio, the pioneering synthetic genomics company, today announced that it has secured $58 million in the first close of its Series A financing, bringing the total amount raised by the company to date to $75 million.

The round was led by Ahren, OMX Ventures and Paladin Capital Group with participation from Fine Structure Ventures, +ND Capital and Abcam-founder Jonathan Milner. The Series A investment will be used to further develop Constructive Bio's groundbreaking technology that writes genomes from scratch and creates entirely new biomolecules. Nobel Prize winner and biotech entrepreneur Sir Gregory Winter will join the board as representative of Ahren, bringing his world-leading expertise and experience in the sector to support the company's growth.

"Synthetic genomics is redefining how we harness biology. Our suite of proprietary technologies and incomparable team allows us to build novel materials and products that will revolutionise drug manufacturing and discovery," said Ola Wlodek, CEO at Constructive Bio. "This financing will enable us to accelerate bringing breakthrough products and platforms to market, which will grow our revenue through existing and new paths, ranging from exciting therapeutics to sustainable biomaterials. We see the future of biology, and we're leading the charge."

Constructive Bio has the unique capacity to produce fully programmable molecules with unprecedented fidelity, specificity, and scalability. Through genome synthesis, the company is able to write entire custom genomes with full control of the genetic sequence and code. By engineering protein translation, it can create and biomanufacture entirely new molecules with novel properties and functions.

The company is rapidly advancing its technologies to develop new therapeutics and synthesise these and existing pharmaceuticals at scale. Since launching in 2022, it has unlocked the commercial potential of its proprietary platforms by optimising its synthetic organisms and demonstrating the scalable production of multi-functionalised proteins at commercial titres. Constructive Bio now has the capacity to bring new products and manufacturing methods to sectors including pharmaceuticals, chemicals, materials and consumer goods.

Constructive Bio's proprietary technology is built on research carried out at the Medical Research Council's Laboratory of Molecular Biology in Cambridge by company founder Professor Jason Chin, who in 2019 synthesised the entire genome of the bacterium E.coli - the first synthetic strain created for industrial use. With this research as the cornerstone of its approach, Constructive Bio is uniquely able to expand the genetic code of cells to incorporate multiple non-canonical amino acids into a single molecule.

Professor Jason Chin, CSO and founder of Constructive Bio, said: "Constructive Bio is the only company that can turn living cells into sustainable biofactories in which we can programme the sequence, composition and chemistry of proteins, and new biopolymers. We have the best technology and an unmatched synergy across our three foundational platforms: deeply recoded synthetic genomes, engineered cellular machinery, and new chemistry. With additional funding we are accelerating genome synthesis and design from years to days, more rapidly engineering cells' machinery to make molecules with extra building blocks, and expanding the chemistry we can programme into molecules."

Sir Gregory Winter, Ahren Science Partner and board member of Constructive Bio, said: "With this investment, we aim to develop Constructive Bio's technology to deliver biomanufacturing at scale. By providing a biological, cost-effective production process, we can help overcome shortfalls in global supplies of therapeutic peptides and proteins such as semaglutide."

Paul Conley, Managing Director at Paladin Capital Group and CEO of General Inception, a deep tech venture studio which has supported Constructive Bio since its foundation and serves on Constructive Bio's board, said: "It has been amazing to witness the evolution of Constructive Bio's truly unique bioengineering and biomanufacturing platform technologies. We are honoured to be backing this impressive team as they move swiftly to realise the full potential of the technology with breakthrough medicines, enzymes and biomaterials in the future."

Shyam Kamadolli, Managing Director of Fine Structure Ventures, said: "Constructive Bio has cutting-edge technology with exceptional near- and long-term potential. It couples groundbreaking innovation with multiple distinct routes to market, and is set to revolutionise the sustainable biomanufacturing of new products across industries."

About Constructive Bio

At Constructive Bio we rewrite the genome to build the biomolecules of the future. Our unique technology turns living cells into biofactories, creating sustainable new materials and therapeutics. With full control of the genetic sequence and code, we are exploring chemical space previously unreached by natural biology.

Through exclusive access to breakthrough science from the MRC Laboratory of Molecular Biology, based on the research carried out by our founder Professor Jason Chin, Constructive Bio alone has the ability to rewrite entire genomes and incorporate multiple non-canonical amino acids in a single molecule.

Constructive Bio is realising the full scientific and commercial potential of its technologies through its proprietary platforms. These include:

Full genome synthesis: We assemble DNA into genome-scale pieces, stitching and replacing megabases of DNA inside living cells. Through this process, we create entirely new genomes from scratch, writing the genetic blueprint of cells with unprecedented flexibility and precision.

Engineered protein translation: Constructive Bio synthesises proteins with expanded functions by incorporating non-canonical amino acids (ncAAs). Through reprogramming the genetic code of cells and expanding their repertoire of chemical building blocks, our technology creates biofactories for the discovery and manufacturing of novel biopolymers. These molecules have unique properties and diverse applications across science and industry, including pharmaceuticals, agriculture and biomaterials.

About Ahren

Ahren is a deep tech and deep science investment firm set up by Alice Newcombe-Ellis alongside co-founding Science Partners that have founded companies and/or technologies that are today valued in excess of $100BN combined. The firm was established from first principles with a mission to be disruptive as an investment institution, with a new model - genuine partnership between the creators of deep tech, and commercial, active, long-term capital - to harness tremendous global talent, creating and exponentially accelerate the next generation of great enterprises that will change the world for the better. Ahren's Portfolio companies include Al21 Labs, Phaidra, ZOE, Ambi Robotics, Sunfire, Heirloom Carbon, Constructive Bio and Bicycle Therapeutics among others. Ahren is now investing from its latest fund and has over $400M of dry powder. Learn more at www.ahreninnovationcapital.com.

About OMX Ventures

OMX Ventures is a venture capital firm focused on investing in a new era of bioengineering and its application for better tools, medicines, foods, industrial products, and more. We specialize in early­ stage investments at the intersection of biology, big data, and Al, with a focus on therapeutics, bio tools, diagnostics, and synthetic biology platforms. We aim to help founders build strong teams, overcome key technical challenges in their first two years of operations, and grow into successful commercial enterprises. Before founding OMX, our partners invested early in successful biotech companies like 10X Genomics (TXG), Twist Bioscience (TWST), Ginkgo Bioworks (DNA), and QuantaLife (now part of Bio-Rad - BIO).

About Paladin Capital Group

Paladin Capital Group was founded in 2001 and has offices in Washington DC, New York, London, Luxembourg, and Silicon Valley. As a multi-stage investor, Paladin's core strength is identifying, supporting and investing in innovative companies that develop promising, early-stage technologies to address the critical cyber and advanced technological needs of both commercial and government customers.

Combining proven investment experience with deep expertise in global security, cyber technology and cutting-edge research, Paladin has invested in more than 70 companies since 2008 and has been a trusted partner to investors, entrepreneurs and governments for over two decades. For more on Paladin Capital Group, follow us on Twitter at @Paladincap and on Linkedln or visit us at www.paladincapgroup.com.

Contact

Campbell Findlay

+44 7415 130854

c.findlay@hawthornadvisors.com