Date: 2015-09-08
Type of information: Series D financing round
Company: Avexis (USA - IL)
Investors: T. Rowe Price Associates (USA - MD) Deerfield Management (USA - NY) Roche Venture Fund (Switzerland) Venrock (USA - CA) Janus Capital Management (USA) Adage Capital Management (USA - MA) RA Capital Management (USA - MA) QVT Financial (USA - NY) Rock Springs Capital Management (USA - MD) Foresite Capital Management (USA - CA) RTW Investments (USA - NY) Boxer Capital of Tavistock Life Sciences (Bahamas)
Amount: $65 Million
Funding type: series D financing round
Planned used: AveXis is a clinical-stage gene therapy company developing treatments for rare and life-threatening neurological genetic diseases. The company’s initial product candidate, scAAV9.CB.SMN, is in an on-going Phase 1 clinical trial for the treatment of spinal muscular atrophy (SMA) Type 1. This gene transfer therapy introduces fully-functioning copies of a survival motor neuron (SMN) gene. The copied gene is intended to supplement the body’s production of SMN protein using an adeno-associated viral vector that carries the SMN gene. Following this treatment, the company believes that the cell machinery could then continually produce SMN protein from the new copies of the SMN gene.
Others: * On September 8, 2015, AveXis, a gene therapy company developing treatments for rare and life-threatening neurological genetic diseases, announced the completion of a $65 million Class D common stock financing. The proceeds will be used to advance the company’s ongoing spinal muscular atrophy (SMA) clinical program and expand key operational capabilities.The Class D financing was led by funds and accounts managed by T. Rowe Price Associates, Inc., a new investor in AveXis. Existing investors, including Deerfield Management, Roche Venture Fund and Venrock, also participated in the financing, as did new participants, including Janus Capital Management LLC, Adage Capital Management, L.P., RA Capital Management, QVT Financial LP, Rock Springs Capital Management LP, Foresite Capital Management, LLC, RTW Investments, LLC and Boxer Capital of Tavistock Life Sciences. Cooley LLP served as legal advisor to the company and Jefferies LLC acted as financial advisor to the company for the transaction.
Therapeutic area: Rare diseases - Genetic diseases
