Audentes Therapeutics, Inc., a San Francisco, CA-based biotechnology company committed to the development and commercialization of gene therapy products for patients with serious, rare diseases, closed a $42.5m Series B financing.
The round was led by Deerfield Management with participation from Sofinnova Ventures and Venrock and current investors OrbiMed, 5AM Ventures, and Versant Ventures. In conjunction with the funding, Jonathan Leff, a Partner on the Private Transactions team at Deerfield, will become a member of the Audentes Board of Directors.
The company intends to use the funds to achieve key clinical development milestones for its two lead programs and to further expand its pipeline and internal capabilities.
Led by Matthew Patterson, President and Chief Executive Officer, Audentes Therapeutics has two products in development:
– AT001 for the treatment of X-Linked Myotubular Myopathy (XLMTM), a rare, inherited disorder characterized by severe muscle weakness and respiratory impairment, and
– AT002 for the treatment of Pompe Disease, a rare, inherited disorder characterized by progressive muscle weakness and respiratory impairment.