Has the market noticed the quiet third pillar of gene editing?

Recombinase-based gene editors today resemble CRISPR-based editing in its early hype phase in 2013-2015. They’ve seen core biology validated in human cells, several venture-backed biotechs formed, and the first billion-dollar pharma deal struck — yet no IPO or broad ‘modality land grab’ has occurred. That may be a strategic oversight, because recombinases could open categories of gene writing that CRISPR struggles to reach.

That hesitation is understandable. The gene editing landscape is more sober than it was a decade ago. Clinical progress has been real but slower and narrower than early expectations, and the first wave of CRISPR companies has already lived through a boom-and-bust cycle as timelines, safety questions and commercial realities came into focus. New genetic engineering technologies now enter a more crowded, more hard-nosed market and face a higher bar for clear differentiation...