Specific Biologics Raises $35M in Series A Funding Led by Hatteras Venture Partners

Specific Biologics, a Toronto, Canada-based provider of a precision gene-editing platform for serious genetic diseases, has raised $35 million in a Series A funding round.

The round was led by Hatteras Venture Partners with participation from Lumira Ventures, adMare BioInnovations, Genesys Capital, Business Development Bank of Canada’s (BDC) Life Sciences Venture Fund, DeepWork Capital, and Seido Capital.

The company will use the funding to expand its operations and research and development (R&D) activities. A key priority is advancing its lead treatment candidate for C9ORF72-associated amyotrophic lateral sclerosis (ALS).

What is Specific Biologics?

Specific Biologics develops gene-editing therapies designed to treat genetic diseases by addressing their underlying causes.

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Its proprietary Dualase® platform is designed to remove harmful DNA repeat expansions while preserving normal genetic sequences needed for biological function. These abnormal DNA sequences are linked to more than 40 genetic disorders.

The company's lead candidate targets the C9ORF72 repeat expansion associated with ALS. It is designed to shorten the abnormal DNA sequence without affecting other parts of the genome.

How Much Funding Has Specific Biologics Raised?

Specific Biologics has raised $35 million in its Series A funding round. Details of its previous funding rounds and total capital raised were not disclosed.

Who Invested in Specific Biologics’ Series A?

The $35 million round was led by Hatteras Venture Partners.

Other participating investors include:

• Lumira Ventures
• adMare BioInnovations
• Genesys Capital
• Business Development Bank of Canada’s Life Sciences Venture Fund
• DeepWork Capital
• Seido Capital

Why the Funding Matters

Specific Biologics will use the funding to expand its operations and research activities.

The investment will support the development of its lead Dualase® candidate through the initial clinical biomarker proof-of-concept stage in the first cohort of an adaptive Phase I/II clinical trial. The study will involve patients with C9ORF72-associated ALS, a neurodegenerative disease with no currently approved therapies.

Who founded Specific Biologics?

Specific Biologics was founded in 2017 by Brent Stead. The company is headquartered in Toronto, Canada.

"This financing represents a defining step toward our goal of bringing a potentially transformative medicine to people living with ALS," said Brent Stead, Chief Executive Officer of Specific Biologics.

"Gene editing has the potential to transform the treatment of genetic diseases, but realizing that promise requires overcoming longstanding challenges in precision, specificity and delivery," said Ben Scruggs, Partner at Hatteras Venture Partners.

Market and Business Growth

Specific Biologics is developing treatments for genetic disorders linked to abnormal DNA repeat expansions.

Its Dualase® platform has demonstrated gene-editing activity in preclinical studies involving multiple neuromuscular repeat expansions. The technology is designed to support both targeted DNA removal and repair.

The platform can use single AAV delivery or lipid nanoparticle-delivered mRNA, creating potential applications across different therapeutic areas.

What Happens Next?

Specific Biologics plans to advance its lead candidate through the early clinical stage of its Phase I/II trial in patients with C9ORF72-associated ALS.

The company will also continue investing in research and development to expand its gene-editing platform and progress treatments for other serious genetic diseases.

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