AveXis, Inc., a Chicago, IL-based gene therapy company developing treatments for rare and life-threatening neurological genetic diseases, completed a $65m Series D financing.
The round was led by funds and accounts managed by new investor T. Rowe Price Associates, with participation from existing investors Deerfield Management, Roche Venture Fund and Venrock and new backers Janus Capital Management, Adage Capital Management, RA Capital Management, QVT Financial, Rock Springs Capital Management, Foresite Capital Management, RTW Investments, and Boxer Capital of Tavistock Life Sciences.
The company intends to use the funds to advance its ongoing spinal muscular atrophy (SMA) clinical program and expand key operational capabilities.
Led by Sean P. Nolan, president and chief executive officer, AveXis is a clinical-stage gene therapy company developing treatments for rare and life-threatening neurological genetic diseases. The company’s initial product candidate, scAAV9.CB.SMN, is in an on-going Phase 1 clinical trial for the treatment of spinal muscular atrophy (SMA) Type 1, an autosomal-recessive genetic disorder characterized by lower motor neuron loss and progressive muscle weakness. SMA is caused by a genetic defect in the SMN1 gene that codes SMN, a protein necessary for survival of motor neurons.