The company has raised $148 million so far and plans to raise the remaining $7 million by next month. Its lead candidate is entospletinib, a SYK inhibitor acquired as part of a deal with Gilead Sciences last month, under development for patients with biomarker-defined acute myeloid leukemia.
The Houston-based company is developing a cell therapy for viral infections in patients with compromised immune systems, which it plans to move into Phase III studies within the next 12 months. AlloVir also raised $120 million in a Series B funding round.
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The firm will follow a model similar to that of BridgeBio, partnering with scientific researchers and launching companies to develop and commercialize their products.
The company hopes the funding will move it toward the clinic. Active clinical programs of gene therapies in Parkinson's include efforts by Voyager Therapeutics and a university in Japan.
The company will focus on what it called a previously unexplored field in drug discovery, membrane-less cell organelles called biomolecular condensates
The round, led by SoftBank Vision Fund, is more than six times the size of Relay's Series B round, which it closed in December 2017.
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The company hopes to start IND-enabling studies and clinical trials next year of orally available drugs in a class currently dominated by injected monoclonal antibodies.
The California-based drugmaker plans to use the money to advance its investigational drugs with MOAs based on immune system responses.