US-based gene therapy platform developer Solid GT, a subsidiary of biotechnology company Solid Biosciences, has raised $42.5m for a series B round co-led by biotechnology company Biogen.
Perceptive Advisors co-led the round, while Janus Capital Management and assorted angel investors also contributed funds. Lynne Sullivan of Biogen and Adam Stone of Perceptive will join Solid GT’s board of directors.
Founded in 2014, Solid GT is working on gene therapies for Duchenne muscular dystrophy, a type of inherited muscle disease which results in muscle degeneration and typically leads to a patient’s death by age 25.
The money will support further development of its platform.
Solid GT has not disclosed details about previous funding rounds.