Solid Biosciences, a Cambridge, Mass.-based life science company, completes the initial closing of its $50M Series C funding.
The round was led by RA Capital Management and Bain Capital Life Sciences, with participation from RTW Investments, Foresite Capital, Cormorant Asset Management LLC, entities affiliated with Leerink Partners, and an unnamed health care fund, and existing investors Perceptive Advisors, Janus Capital Management and Biogen. In conjunction with the funding, RA’s Rajeev Shah and Adam M. Koppel, M.D., Ph.D., managing director, Bain Capital Life Sciences, will join Solid’s Board of Directors. As part of the transaction, Solid Biosciences has merged with Solid GT, the company’s subsidiary focused on gene therapy development, to align talent and resources. The Boards of Directors of Solid Biosciences and Solid GT will be consolidated.
The company will use the funds to progress its portfolio of programs targeted at Duchenne muscular dystrophy (DMD).
Led by Ilan Ganot, chief executive officer, Solid Biosciences focuses solely on finding therapies for Duchenne muscular dystrophy (DMD). Currently, the company is progressing programs across four scientific platforms: Corrective Therapies, Disease Modifying Therapies, Disease Understanding and Assistive Devices. The company’s lead candidate, SGT-001, is an adeno-associated viral (AAV) vector-mediated gene therapy for which clinical trials are anticipated to begin in the second half of 2017.