AAA Praxis Precision works out $110m series C1

Praxis Precision works out $110m series C1

Praxis Precision Medicines, a US-based gene therapy developer focusing central nervous system disorders, collected $110m in series C1 funding yesterday from investors including pharmaceutical firm Novo Holdings.

Eventide Asset Management led the round, which also included Vida Ventures, Blackstone Life Sciences, OCV Partners, Avoro Capital Advisors, Surveyor Capital, Point72, Cormorant Asset Management, Qatar Investment Authority, Irving Investors, Adage Capital Management, Verition Fund Management and Ample Plus Fund.

Founded in 2015, Praxis Precision Medicines is developing gene therapies for conditions linked to the central nervous system.

The money will allow Praxis to advance its pipeline, which includes potential treatments in clinical trials for major depressive disorder, perimenopausal depression, essential tremor, paediatric epilepsy and adult cephalgia.

Praxis Precision emerged from stealth in May this year with a total of $100m in funding. The capital had been provided by a consortium co-led by Novo and Blackstone Life Sciences’ Clarus unit, with contributions from Eventide and Vide Ventures.

The company’s co-founders include David Goldstein, a professor in Columbia University’s Department of Genetics and Development, and Steven Petrou, head of the Department of the Florey Institute at University of Melbourne.

By Thierry Heles

Thierry Heles is editor-at-large of Global University Venturing and Global Corporate Venturing, and host of the Beyond the Breakthrough podcast.

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