US-based precision gene therapy developer Encoded Therapeutics raised $104m on Wednesday in a series C round that included Illumina Ventures, the corporate venturing subsidiary of biotechnology developer Illumina.
Alexandria Venture Investments, the venture capital unit for life sciences real estate investment trust Alexandria Real Estate Equities, also took part in the round, as did Venrock, Arch Venture Partners, Matrix Capital Management, Altitude Life Science Ventures, Menlo Ventures, RTW Investments and Boxer Capital.
Founded in 2014, Encoded Therapeutics exploits genomics and computational technology to identify and manipulate DNA sequences that control gene expression, using viral gene therapy to target disorders previously deemed untreatable.
The company hopes to develop treatments for conditions across four core areas: neurocircuitry disorders, liver and metabolic disease, neurodegeneration and cardiovascular disease.
Encoded is initially focusing on Dravet syndrome, a severe genetic disorder that causes seizures, significant developmental delays and a higher risk of early mortality due to sudden unexpected death in epilepsy, as well as ataxia, which affects coordination, balance and speech.
The series C capital will go towards the further development of Encoded’s lead program targeting Dravet syndrome, in addition to advancing its preclinical pipeline and supporting the development of treatments for other genetic disorders.
Illumina Ventures, Matrix Capital and Altitude Life Science Ventures were identified as returning investors for the series C round, though Encoded has not disclosed further details of its earlier finanicing.
The company was incubated in Illumina Accelerator, graduating from the scheme in 2015. Venrock and Arch Venture Partners supplied an undisclosed amount of seed financing for it at an unspecified date.
