UK-based neurodegenerative gene therapy developer AviadoBio picked up $80m yesterday in a series A round featuring Johnson & Johnson Innovation – JJDC, a subsidiary of medical product group Johnson & Johnson
The round was co-led by New Enterprise Associates and Monograph Capital and included investment and financial services group Fidelity’s F-Prime Capital subsdidiary, LSP, Advent Life Sciences, Dementia Discovery Fund (DDF) and LifeArc.
Founded in 2019, AviadoBio is working on gene therapies for neurodegenerative conditions including frontotemporal dementia (FTD) and amyotrophic lateral sclerosis (ALS).
The series A financing will allow the startup to advance its lead asset, which targets FTD, into the clinic, progress its preclinical pipeline and grow its headcount.
AviadoBio concurrently revealed it had raised $16.5m in seed funding from JJDC, F-Prime Capital, Advent Life Sciences, DDF and LifeArc, and regulatory filings indicate that capital was secured between September 2020 and April 2021.
Lisa Deschamps, AviadoBio’s CEO, said: “I am excited about the promise we can bring to people living with neurodegenerative disease, where a significant unmet medical need remains with only symptomatic therapies currently available.
“Our differentiated approach has the potential to transform the treatment landscape and we have the opportunity with our group of experienced investors, our advisors and founders, to change the lives of people living with these debilitating conditions.
“The expansion of our team and investor syndicate, positions AviadoBio to make this mission a reality while advancing the field.”
