Date: 2016-08-02
Type of information: Series A financing round
Company: Avrobio (USA - MA)
Investors: Atlas Venture (USA) Clarus (USA) SV Life Sciences (USA)
Amount: $25 million
Funding type: series A financing round
Planned used:
- Avrobio is a clinical-stage biotechnology company developing transformative, life-changing gene therapies for rare diseases and cancer. The company will use the proceeds from this financing to accelerate development of its clinical stage programs in Fabry disease and acute myeloid leukemia and to expand its pipeline in rare diseases and solid and liquid cancers.
- Avrobio's initial two programs are leveraging the established safety and effectiveness of ex-vivo gene therapy to provide Fabry and AML patients with new therapies that have the potential to significantly improve both their quality of life and lifespan. Its Phase 1 gene therapy to treat Fabry disease seeks to deliver lasting and meaningful benefits for Fabry patients. The patient’s stem cells are extracted and genetically modified by adding a new, functional copy of the faulty gene. The modified cells are then infused back into the patient via a one-time procedure. A durable elevation of endogenous enzyme is expected, with the potential to significantly improve patient outcomes and eliminate costly lifetime biweekly intravenous infusions of enzyme replacement therapy.
- Its Phase 1 gene therapy to treat AML seeks to recruit the patient’s own immune system to better detect and eradicate cancer cells. After initial chemotherapy, some of the patient’s residual cancer cells are extracted and genetically modified to express IL-12, a powerful immune system activator. The modified cells are then infused back into the patient via a one-time procedure, with a goal to elicit a potent and durable anti-cancer immune response against remaining AML blasts in the patient’s body.
Others:
- • On August 2, 2016, Avrobio announced that it has raised $25 million in a Series A financing co-led by Atlas Venture, Clarus and SV Life Sciences.
- In conjunction with this Series A financing, the company announced that Bruce Booth, DPhil, Partner at Atlas Venture, will serve as Chairman of the Board of Directors. Also joining the company’s Board are Scott Requadt, Managing Director at Clarus, and Joshua Resnick, MD, Partner at SV Life Sciences.
Therapeutic area: Cancer - Oncology - Rare diseases - Genetic diseases
Is general: Yes
