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
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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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