US-based genetic medicine developer Neurogene has completed a $115m series B round featuring Alexandria Venture Investments, the venture capital arm of life sciences real estate investment trust Alexandria Real Estate Equities.
Investment adviser EcoR1 Capital led the round, which included Redmile Group, Samsara BioCapital, Casdin Capital, Avidity Partners, Ascendant BioCapital, Arrowmark Partners and Cormorant Asset Management.
The investors were rounded off by an unnamed healthcare investment fund, along with funds managed by Janus Henderson Investors and funds and accounts managed by BlackRock.
Neurogene is working on gene therapies that will use adeno-associated virus vectors to treat neurological diseases by delivering a normal gene to replace the dysfunctional one in patients.
Rachel McMinn, Neurogene’s founder and chief executive, said: “Gene therapy has generated tremendous hope for the many families and patients with severe genetic disorders.
“We believe our focus on improved product design, innovative technology, cutting-edge vector manufacturing and premier analytics will help fulfil the potential of genetic treatments.
“Proceeds from this round of financing will help us execute on our mission to develop safe and effective genetic therapies for patients and families living with neurological diseases.”
Samsara BioCapital, EcoR1 Capital, Cormorant Asset Management and Redmile Group has joined an undisclosed healthcare investment fund – likely the same one in this round – to provide $68.5m in series A funding for the company in February 2019.
