Wobble Genomics – a University of Edinburgh spin-out whose novel approach to RNA sequencing could revolutionise many fields in biotechnology – has raised £8.5m to help commercialise its technology.

The funding round was led by Mercia Ventures and BGF and backed by IQ Capital, EOS Advisors and Old College Capital, the university’s venture fund.

Wobble, which is currently operating in stealth mode, has found a way to detect previously invisible ‘full length’ RNA. The technology could have wide-ranging applications, from drug development and research to agriculture and ecology.

Genetic sequencing offers a way to understand the behaviour of cells. Current techniques largely focus on DNA, however it is the RNA molecules which ultimately determine their behaviour. Therefore RNA sequencing can provide a better understanding of how cells will react in different situations.

Historically it has been difficult to use RNA sequencing for many applications due to the inherent instability of RNA, its complex molecular structure and the abundance of molecules. In addition, current techniques known as ‘short-read sequencing’ can only measure small fragments of RNA which does not capture important information. Wobble’s novel approach overcomes these challenges and enables long-read sequencing, allowing for optimal detection of full length RNA.

Wobble was established in 2021 by Dr Richard Kuo, who has over 15 years’ experience in biology and bioengineering including over 10 years carrying out research into long-read RNA sequencing at the university’s Roslin Institute. The company, which currently employs a team of 10, expects to double in size in the next two years. The latest funding round brings the total amount raised by the company to date to over £10.5m.

Dr Kuo, who is the company’s CEO, said: “Genetic sequencing has come a long way since its inception in the 1970’s. The industry is now moving past short-read towards long-read sequencing, with long-read RNA sequencing being one of the most exciting new developments in biotechnology. We believe our solution could accelerate a new wave of biotechnology innovations. We are pleased to receive backing from some of the UK’s leading life science investors, which highlights its potential. The funding will help us to pursue our mission to reveal the unseen world of RNA and unlock exciting new applications.”

Lee Lindley of Mercia Ventures added: “Wobble’s technology has far reaching applications including the potential to make precision medicine, and the improved patients outcomes that this would deliver, a reality. It is particularly exciting that, unlike with many early-stage companies, the science behind it is already proven so the funding can be used to further develop and commercialise the technology.”

Jo Smart of BGF said: “Wobble has developed a full stack approach to identifying and analysing RNA markers – an exciting field of research and development in the biotechnology sector – which has the potential to revolutionise the early detection of cancer markers from blood. We look forward to bringing our considerable experience in the life sciences market to support the business as it continues to build further validation and guide how the technology is taken to market.”

ENDS

About Mercia Ventures

Mercia Ventures is a proactive venture capital investor focused on being the first-choice partner for growth. Mercia Ventures makes equity investments of up to £10million across all sectors, with specialisms in Software, Consumer, Healthcare and Deep Tech. 

Mercia Ventures is part of Mercia Asset Management PLC and sits alongside its wider private equity, debt and proprietary balance sheet capital operations. The Group has 11 offices in the UK and Mercia Ventures’ national footprint and 48 strong investment team draws on their experiences as founders, PhD scientists, software engineers, corporate financiers and management consultants to help our partner companies successfully achieve their ambitions. Mercia Asset Management PLC currently has c.£1.4billion of assets under management and, since its IPO in December 2014, has a portfolio of over 400 start-ups from pre-seed to Series B. Mercia Asset Management PLC is quoted on AIM with the epic “MERC”.

The Group raises its own Venture Capital Trusts (VCTs) and Enterprise Investment Scheme (EIS) Funds and details about open offers can be found through Mercia’s website.

Mercia Asset Management PLC is quoted on AIM with the epic “MERC” and includes the following wholly owned subsidiaries –

• Mercia Fund Management Limited is authorised and regulated by the FCA under firm reference number 524856
• Enterprise Ventures Limited is authorised and regulated by the FCA under firm reference number 183363
• EV Business Loans Limited is authorised and regulated by the FCA under firm reference number 443560

www.mercia.co.uk

About BGF

BGF was set up in 2011 and has invested over £3.9 billion in more than 550 companies, making it the most active growth capital investor in the UK and Ireland. 

BGF has to date invested £200 million in the field of life sciences, supporting companies across the fields of diagnostics, medtech and digital health, as well as services, software and tools supporting therapeutic development. 

BGF is a minority, non-controlling equity partner with a patient outlook on investments, based on shared long-term goals with the management teams it backs. BGF invests in growing businesses in the UK and Ireland through its network of 15 offices.

www.bgf.co.uk