Locanabio, Inc., a San Diego, CA-based RNA-targeting gene therapy company focused on developing therapies for patients with severe neurodegenerative, neuromuscular and retinal diseases, raised $100m in Series B financing.
The round was led by Vida Ventures with participation from new investors including RA Capital Management, Invus, Acuta Capital Partners and an investment fund associated with SVB Leerink and prior Locanabio investors ARCH Venture Partners, Temasek, Lightstone Ventures, UCB Ventures and GV.
The financing will advance Locanabio’s portfolio of RNA-targeted gene therapies and expand the technology platform to pursue a broad range of therapeutic indications.
Led by Jim Burns, Ph.D., chief executive officer, Locanabio is currently developing therapies to treat multiple genetic diseases with no approved therapeutic alternatives, including Huntington’s disease, spinocerebellar ataxia type 1, myotonic dystrophy type 1, genetic forms of amyotrophic lateral sclerosis and retinal diseases.
The company also announced that Rajul Jain, M.D., director of Vida Ventures, will join Locanabio’s board of directors.