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Fundraisings and IPOs

Date: 2018-02-01

Type of information: Series B financing round

Company: Avrobio (USA - MA)

Investors: Cormorant Asset Management and Surveyor Capital (a Citadel company), and included participation by Aisling, Brace Pharma Capital, Eventide Asset Management and Morningside, along with existing investors Atlas Venture, SV Health Investors and Clarus Ventures.

Amount: $60 million

Funding type: series B financing round

Planned used:

  • Avrobio will use this financing to advance multiple gene therapies from its proprietary lentiviral platform, including its lead gene therapy, AVR?RD?01, currently in Phase 1 for Fabry disease, as well as three additional gene therapies for other lysosomal storage disorders, Gaucher disease, cystinosis and Pompe disease.
  • In advancing its gene therapy pipeline, Avrobio plans to initiate a Phase 2 clinical trial this year with AVR-RD-01 in Fabry disease, based on promising initial six-month clinical results in the ongoing Phase 1 trial. In the first patient with Fabry disease in the Phase 1 trial, treatment with a single dose of AVR?RD?01 resulted in normal plasma activity of ??galactosidase A enzyme, the lysosomal enzyme genetically deficient in patients with Fabry disease. In addition, the company plans to initiate clinical development of two other gene therapy candidates for cystinosis and Gaucher disease by mid-2019.
 

Others:

  • • On February 1, 2018, Avrobio announced that it has completed a $60 million Series B financing. The Series B round was co-led by Cormorant Asset Management and Surveyor Capital (a Citadel company), and included participation by Aisling, Brace Pharma Capital, Eventide Asset Management and Morningside, along with existing investors Atlas Venture, SV Health Investors and Clarus Ventures.
   

Therapeutic area: Cancer - Oncology - Rare diseases - Genetic diseases

Is general: Yes