Another proof point from CIRM-supported research  

/ California Institute for Regenerative Medicine (CIRM)

When Alameda-based biotech company and CIRM awardee Scribe Therapeutics raised over $155 million from a recent IPO, from a recent IPO, it became the latest in a series of companies developing CIRM-supported therapies that have gone public or netted significant follow-on funding and investment. That’s good news for Californians whose tax dollars support the companies’ work.

While biotech IPOs don’t indicate that any given treatment will succeed, they do independently validate the quality of the research CIRM supports.

Group of people celebrating with confetti at a Nasdaq event for Scribe Therapeutics, standing in front of a large screen displaying stock information.

Innovation and Follow-On Funding

CIRM’s mission is to accelerate the development of new cell and gene therapies in California along with building the infrastructure and workforce required to do that.

Over more than two decades, the agency has committed more than $4.6 billion toward that goal, supporting cutting-edge science from early discovery through clinical trials. This public taxpayer investment has created the leverage to bring an additional $24 billion in follow-on funding, private investment, acquisitions, and public offerings to California while helping to establish the state as a global leader in regenerative medicine and cell and gene therapy

CRISPR for Cardiovascular Health

Co-founded by Nobel laureate Prof. Jennifer Doudna, Ph.D., Scribe uses custom-engineered CRISPR tools to develop next-generation genetic medicines for cardiovascular disease—the leading cause of death in the U.S. and worldwide.

An illustration of a scientist assembling a DNA helix with colorful building blocks, symbolizing genetic research and biotechnology.

Scribe’s goal is to provide everyone access to cardioprotective genetic effects. The IPO provided Scribe capital to advance a suite of programs aimed at providing persistent treatments to ameliorate the underlying cause of ASCVD: atherogenic lipids such as LDL-C with epigenetic silencing technologies that could prove to be safer and more effective. CIRM awarded Scribe two multi-year grants totaling more than $25 million to support preclinical development of one-time approaches accelerating programs for severe hypertriglyceridemia (STX-1400) and Lp(a)-driven atherosclerotic cardiovascular disease (STX-1200).

“CIRM plays a critical role in investing in the people, companies, and technology driving California’s biotech industry, which pays forward to all Californians,” said Brett Staahl, Ph.D., a Scribe co-founder and Vice President of External Innovation. “This investment helps Scribe to advance two programs that aim to deliver practical, one-time therapeutic solutions to patients throughout California that will enable them to avoid a lifetime of healthcare friction spent managing disease imperfectly.”

A man sitting at a table with a serious expression, wearing a checkered suit jacket, speaking at a conference. Behind him is a presentation screen displaying his name and title, which includes 'Brett Stahl, PhD, Co-Founder & VP External Innovation, Scribe Therapeutics'.
Scribe co-founder and Vice President of External Innovation, Brett Staahl speaking at conference in San Diego.

Economic Growth and Workforce Development 

Scribe’s expansion highlights the broader economic ripple effect of state funding, which accelerates novel treatments while creating high-value jobs and local economic opportunity. 

Beyond supporting commercial ventures, CIRM’s educational programs have trained more than 4,500 high school, undergraduate, graduate, and postdoctoral students to fill roles created by these investments. An independent economic impact report in 2019 demonstrated that CIRM investments continue to drive tens of thousands of full-time jobs across California. 

Other CIRM-supported companies have also entered the public markets. South San Francisco-based Tenaya Therapeutics, which has received CIRM funding for a gene therapy to treat heart disease, went public in 2021. CIRM later awarded Tenaya an $8 million clinical-stage grant in 2025 to support its ongoing Phase 1b trial. Others, like Neurona, have been purchased by public companies.

Investors in an IPO are betting on the company’s future success. In biotech, that future success depends almost entirely on its science and the potential for its therapies to get through clinical trials and receive FDA approval. But the process is long, expensive, and fraught with failure. On average, it can take a decade or more and cost well over $1 billion because failures must be factored in. Veera Rajagopal, MBBS, MD, PhD, thinks that’s an underestimate and the costs can go over $3 billion to get a drug approved.

That is why Scribe’s public offering matters beyond Wall Street. It does not guarantee clinical success, but it gives a CIRM-supported company more resources to navigate the long, costly path from promising science to potential approval. For Californians, it is another proof point that public investment in cell and gene therapy can help turn bold research into companies, jobs, and, most importantly, new treatment options for patients who need them.