Applied Genetic Technologies Corporation (AGTC), a clinical stage biotechnology company developing gene therapy products to treat rare retinal diseases, has secured $37.5m in Series B financing.
The round was led by Alta Partners and S.R. One, Limited, with new investor Osage University Partners joining existing investors InterWest, Intersouth Partners and MedImmune Ventures.
Led by Sue Washer , President and CEO, and Dr. Jeffrey Chulay, Chief Medical Officer and Vice President of Regulatory Affairs, AGTC uses its proprietary, non-pathogenic adeno-associated virus (AAV) delivery system to develop treatments for retinal diseases.
The company intends to use the capital to continue development of its Phase 2 program in Alpha-1 Antitrypsin Deficiency (Alpha-1) and initiate full development of potential treatments for two orphan ophthalmology indications, Achromatopsia (ACHM), an inherited genetic condition that presents at birth with impaired visual acuity, and X-Linked Rentinoschisis (XLRS), an inherited genetic condition which causes juvenile macular degeneration in males.