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Fundraisings and IPOs

Date: 2017-06-27

Type of information: Series B financing round

Company: LogicBio Therapeutics (USA - MA)

Investors: Arix Bioscience (UK) OrbiMed (USA - NY) Edmond de Rothschild Investment Partners (France) Pontifax (Israel) SBI Japan-Israel Innovation Fundalso (Israel - Japan)

Amount: $ 50 million

Funding type: series B financing round

Planned used:

  • LogicBio Therapeutics is a preclinical-stage company combining  gene therapy and genome-editing technology. The company has been founded by gene-therapy pioneers from Stanford University, Tel Aviv University, and Children's Medical Research Institute in Sydney. Its  core platform includes a first-in-class proprietary genome-editing platform, GeneRide™ technology, and synthetic gene-therapy vectors derived from naturally occurring human adeno-associated viruses. LogicBio designed its approach to harness the natural power of homologous recombination ? enabling precise, site-specific transfer of the genetic material without the use of vector-borne promoters or nucleases, which could be associated with unwanted side effects. The funds and move will enable the startup to continue development of its GeneRide™ technology and to accelerate its lead programs to the clinic.
  • LogicBio’s co-founders Mark Kay, M.D., Ph.D., Adi Barzel, Ph.D., and Leszek Lisowski, PhD., M.B.A., developed the company’s two core technologies in the Kay Lab at Stanford University: 1) The GeneRide technology harnesses the natural power of homologous recombination to enable precise, site-specific transfer of therapeutic genetic material without the use of promoters or nucleases. This strategy minimizes the risk of carcinogenicity spurred on by strong promoters used in traditional gene-therapy approaches. 2) A library of novel synthetic,non-pathogenic recombinant adeno-associated viral (rAAV) vectors, designed specifically to enable significant clinical performance advantage over established clinical capsids.
 

Others:

  • • On June 27, 2017, LogicBio Therapeutics announced that it has successfully raised approximately $50 million in financing to date. The investments were led by Arix Bioscience and OrbiMed. Edmond de Rothschild Investment Partners, Pontifax,and SBI Japan-Israel Innovation Fundalso participated. LogicBio also announced a relocation from California to LabCentral in Kendall Square,Cambridge,Massachusetts.
  • Fred Chereau, Erez Chimovits, Mark Kay, and Daniel O’Connell have all been appointed to the LogicBio board of directors. They will be joined by Leon Chen, Ph.D., venture partner at Orbimed; Sofia Ioannidou, Ph.D., investment director at Edmond de Rothschild Investment Partners; and Tomer Kariv, J.D., founder and CEO of Pontifax.
 

Therapeutic area: Rare diseases - Genetic diseases - Infectious diseases

Is general: Yes