Bay Area gene therapy startup Audentes Therapeutics just closed out an oversubscribed Series C round of $65 million.
Audentes is developing adeno-associated virus-based therapeutics that inject disease-correcting genes into a patient’s cells. It’s focusing on three diseases: X-linked myotubular myopathy, Pompe disease and a rare form of tachycardia called CPVT. While they’re all preclinical, the new influx of funding will advance these three candidates into the clinic, Audentes says.
The company has well-established relationships with patient groups associated with these diseases, which should help Audentes hasten the clinical trial recruitment process. It has also set up a patient advocacy website
When Investment Rhymes with Canada
Canada has a proud history of achievement in the areas of science and technology, and the field of biomanufacturing and life sciences is no exception.
The round was led by existing investor Sofinnova Ventures and new investor Redmiel Group. Other participants include RA Capital Management, OrbiMed, 5AM Ventures, Versant Ventures, Deerfield Management and Venrock.
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