On May 14, 2024 Elegen Corporation closed the transaction. The company announced that it has raised $35,000,000 in funding led by a new investorTriatomic Capital Private LP. The transaction include participation from new investor, GSK plc, returning investors, a16z Bio + Health, a fund managed by Andreessen Horowitz LLC, KDT Ventures LLC, 8VC, Digitalis Ventures, ACVC Partners, Alix Ventures, AME Cloud Ventures, LLC, Agilent Technologies, Inc, individual investor John Ballantyne, and other investors.

The company raised $32,982,943 by issuing securities pursuant to exemption provided under Regulation D from 28 investors. As part of this transaction Peter Zhou, General Partner of Triatomic Capital,will be joining company?s board.