Sherlock Biosciences received the FDA’s first emergency authorization for a CRISPR-based Covid-19 test, a milestone in 2020 showing the technology could be used for diagnostics. But it didn’t save time. Sherlock’s lab test takes two and a half hours, while PCR test results can be produced in about an hour. Sherlock has since made progress, claiming it is now able to produce results in less than 10 minutes.The company aims to take its diagnostic capabilities beyond the lab and into homes around the world, and it has Raised $80 million Start.
The Series B round, announced Tuesday, was led by Novalis LifeSciences.
Cambridge, Massachusetts-based Sherlock has two diagnostic technologies. Its CRISPR platform, licensed from the Broad Institute of MIT and Harvard, recognizes the DNA or RNA of target pathogens. When a target is detected, the CRISPR-Cas enzyme activates to generate a signal that is read as diagnostic. The second technology, called INSPECTR, comes from Harvard’s Wyss Institute for Biologically Inspired Engineering. After detecting its nucleic acid target, this synthetic biology technique produces a synthetic protein that sends a diagnostic signal.
Sherlock initially developed the two technologies separately, a strategy the company has maintained since the beginning of the pandemic. But CEO Bryan Dechairo, a former Myriad Genetics executive, said Sherlock has since found advantages in combining the two technologies. CRISPR offers the ability to design tests that are highly specific to a specific target nucleic acid. Synthetic biology techniques can read nucleic acid signals in a variety of ways, including simple, low-cost paper strips. The synbio technology is also suitable for multiplexing – detecting multiple pathogens from a single sample. This combination, Dechairo says, can produce fast, highly accurate results with a simple device that can operate at ambient temperatures and doesn’t even require a power source.
“Commodity costs are low,” Dechairo said. “This will enable disease diagnosis around the world.”
With the new funding, Sherlock plans to apply its technology to two different diagnostic devices. Both devices produce quick results, but they’re suitable for different markets because clinicians want different things than consumers want, Dechairo said. More durable equipment is used for repetitive tests, such as what a doctor might do in a clinic. It will be powered by a battery or a USB connection, but still offer a low cost commodity. The second device is designed for consumers who only want to ask a diagnostic question once. Beyond home use, the single-use device will enable diagnostics to have a greater global reach, Dechairo said.
When Sherlock was founded, its focus was on developing diagnostics for infectious diseases and cancer. That remains the focus, and the company will use some of the new funding for clinical trials, which could potentially expand the company’s technology beyond its current use in Covid testing. Sherlock will focus on several signs that the company can commercialize the technology. For others, it will seek to partner with big players in the pharmaceutical and diagnostics industries. Partnerships can extend beyond healthcare. The ability to detect DNA or RNA on point-of-demand devices opens doors for biodefense, veterinary care, and detection of plant pathogens in farmland, Dechairo said. For such applications, Sherlock will seek partners in these industries, Dechairo said.
Sherlock launched in 2019, backed by $31 million in Series A funding. The Series B round announced Tuesday includes new investors Illumina Ventures, Albany Capital and Catalio Capital Management. Northpond Ventures and Good Ventures, along with other early stage investors, also participated.
people field Image via Flickr user National Institutes of Health Photo Gallery
