LogicBio Therapeutics Inc., a Cambridge, MA-based gene therapy company, raised $45m in Series B financing.
The round was led by Arix Bioscience plc (LSE: ARIX) with participation from new investors OrbiMed, Edmond De Rothschild Investment Partners, Pontifax, and SBI, along with previous investors OrbiMed Israel Partners. As part of the financing, Arix Bioscience’s Investment Manager, Daniel O’Connell, MD, PhD, will join LogicBio’s Board of Directors.
The company, which has now raised a total of approximately $50m in financing to date, intends to use the funds to advance gene therapies targeting orphan paediatric disorders through clinical trials.
Founded with core platform technologies discovered by Dr Adi Barzel, Tel Aviv University, Dr Leszek Lisowski, Children’s Medical Research Institute, Australia, and Professor Mark Kay at Stanford University School of Medicine, LogicBio focuses on disease-modifying gene therapies for orphan paediatric diseases by combining gene therapy and editing in a one-time treatment.
The first platform, GeneRide(TM), is a technology that uses homologous recombination to enable precise, site-specific transfer of therapeutic genetic material without the use of promoters or nucleases. The company also has access to a library of synthetic, non-pathogenic, recombinant adeno-associated viral (rAAV) vectors developed at Stanford that allows for better predictability of vector performance in clinical trials.
The company has additional science teams working in Tel Aviv.