StrideBio, Inc., a Research Triangle Park, N.C.-based developer of novel engineered adeno-associated virus (AAV) based gene therapies, closed a $81.5m Series B funding round.
The round was co-led by Northpond Ventures and Novo Holdings A/S and included new investors Pontifax, Octagon Capital, Sarepta Therapeutics, CaaS Capital and UF Innovate Ventures, along with existing investors Hatteras Venture Partners, UCB Ventures, Takeda Ventures and Alexandria Venture Investments. In conjunction with the financing, Shaan C. Gandhi, M.D., D.Phil., Director at Northpond Ventures, and Karen Hong, Ph.D., Partner at Novo Ventures, an affiliate of Novo Holdings A/S, StrideBio’s Board of Directors.
Founded in 2015 based on the research of Mavis Agbandje-McKenna, Ph.D., and Aravind Asokan, Ph.D., and led by Sapan Shah, Ph.D., Chief Executive Officer, StrideBio is a fully integrated gene therapy company focused on creating genetic medicines. Its proprietary structure-inspired adeno-associated viral (AAV) vector engineering platform (STRIVE™) creates differentiated capsids that overcome current limitations of first-generation gene therapies. Key targeted improvements include reduced seroprevalence, improved tropism for specific cell types, liver de-targeting and increased gene transfer efficiency, with the potential for improved safety and reduced doses in the clinic. The company is advancing a pipeline of gene therapy candidates enabled by these novel engineered capsids, initially focused on genetically-defined CNS and cardiovascular disorders.
StrideBio’s programs will leverage the company’s lead proprietary AAV capsids with features including reduced seroprevalence, neuronal and cardiovascular tropism, liver de-targeting and enhanced gene transfer efficiency compared to first-generation AAV serotypes.
Funds raised as part of the Series B will be used to support continued operational growth and manufacturing capacity expansion, building on the company’s current infrastructure which includes a 6,000 sq ft GMP clean suite.