Prevail Therapeutics, Inc., a biotechnology company developing gene therapies for patients with Parkinson’s disease and other neurodegenerative diseases, raised $75m in Series A financing.
Backers included OrbiMed, Pontifax Fund, RA Capital Management, EcoR1 Capital, Omega Funds, BVF Partners L.P., Boxer Capital, LLC, Adage Capital Management L.P., and Alexandria Venture Investments.
Led by Asa Abeliovich, M.D., Ph.D., Founder and Chief Executive Officer, Prevail is advancing gene therapies with a goal of addressing the underlying disease process in Parkinson’s disease and other neurodegenerative disorders.
The company intends to use the proceeds to advance its pipeline of AAV-based (adeno-associated virus) therapeutics targeting lysosomal dysfunction to treat patients with genetically-defined neurodegenerative diseases. Prevail’s lead program, PR001, will be developed for a genetic subset of Parkinson’s disease and other mechanistically-related disorders.
Prevail has an exclusive worldwide license agreement with Regenxbio, Inc., to develop and commercialize gene therapy products using REGENXBIO’s NAV AAV9 vector for the treatment of Parkinson’s disease and other related neurodegenerative diseases.