Generation Bio, the Atlas venture-backed biotechnology company has announced that it has raised US$100 million in Series B financing.
Headquartered in Cambridge, Massachusetts, Generation Bio’s therapies are based on its proprietary GeneWave™ technology, which is aimed to deliver durable, high levels of gene expression and can be titrated to effect and re-dosed to sustain impact over a lifetime.
The fundraising campaign was led by Fidelity Management & Research Company, with Invus, Deerfield Management Company, Casdin Capital, Foresite Capital and Leerink Partners’ Affiliates.
The Series B follows the $25 million Series A financing in the beginning of the year. The company will use the funds to move its first two therapeutic candidates targeting the liver through Investigational New Drug (IND) enabling studies, and to advance additional programs targeting genetic diseases of the retina, central nervous system and lungs.
The GeneWave technology is based on the discovery made by Dr Robert Kotin, Generation Bio’s scientific founder and Head of Discovery. Dr Kotin discovered an alternate mode of non-viral gene transfer, known as closed-ended DNA (ceDNA) which has the unique ability to translocate to the nucleus without the use of a viral capsid. Once in the nucleus, ceDNA forms stable, non-integrating episomes resulting in high levels of long-term gene expression. Using lipid nanoparticles to intravenously deliver ceDNA to the liver, the company intends to treat genetic diseases of the liver itself or to transform the liver into a living “biofactory” for expressing systemic proteins to treat a wide variety of genetic diseases.
Dr Geoff McDonough, president and CEO of Generation Bio commented: “We are delighted to have the support of this group of experts, long-term investors who share our vision to create a generation of people living unaffected by genetic disease. This will be a critically important year for us as we develop the GeneWave platform and work towards our first development candidates to address rare diseases of the liver. The round will also support the development of approaches to deliver ceDNA to other tissues such as the eye, the central nervous system and the lungs.”
Source: Generation Bio Announces $100 Million Series B Financing to Advance GeneWave™ Platform for Re-Dosable Gene Therapy, February 2018. Press Release