Prevail Therapeutics, Inc., a New York, NY-based gene therapy company developing Adeno-Associated Virus-based gene therapies for patients with devastating neurodegenerative diseases, raised $50m in Series B financing.
– existing investors OrbiMed, Pontifax, RA Capital Management, EcoR1 Capital, Omega Funds, BVF Partners L.P., Boxer Capital, LLC, Adage Capital Management L.P. and Alexandria Venture Investments,
– new investors Surveyor Capital (a Citadel company), AbbVie Ventures, and
– several undisclosed investors.
The company, which has now raised approximately $129m to date, intends to use the proceeds to advance development of its pipeline of novel gene therapy programs.
Launched in 2017 by Asa Abeliovich, M.D., Ph.D., Founder and Chief Executive Officer, Prevail Therapeutics is a gene therapy company leveraging breakthroughs in human genetics with the goal of developing and commercializing disease-modifying AAV-based gene therapies for patients with devastating neurodegenerative diseases.
The company was founded by Dr. Abeliovich in 2017, through a collaborative effort with The Silverstein Foundation for Parkinson’s with GBA and OrbiMed.