Wave Life Sciences, a Boston, MA-based genetic medicine company, completed an oversubscribed $66m Series B financing.
The round was led by new investor Foresite Capital with participation from new investors Fidelity Management and Research Company, New Leaf Venture Partners, Redmile Group, Jennison Associates (on behalf of certain clients), Cormorant Asset Management, certain private investment funds advised by Clough Capital Partners L.P. RA Capital Management, and Kagoshima Shinsangyo Sosei Investment.
The company intends to use the funds to continue to advance its chemistry platform and advance a broad pipeline of stereopure nucleic acid therapeutics, including candidates for Huntington’s disease and Duchenne muscular dystrophy, across a breadth of oligonucleotide modalities, including RNAi, antisense and exon-skipping, among others. The company plans to file its first INDs by the end of 2016.
Led by Paul Bolno, M.D., MBA, president and chief executive officer, Wave Life Sciences focuses on advancing stereopure nucleic acid therapies for patients impacted by rare diseases.
The company’s nucleic acid therapies are being developed to target underlying disease biology in order to yield improved activity, stability, specificity and immunogenicity, maximizing therapeutic effect while minimizing the potential for side effects and safety risks.
Wave’s pipeline is designed to span multiple oligonucleotide modalities including antisense, exon-skipping and single-stranded RNAi.