AAVantgarde Bio, a clinical-stage biotechnology company advancing therapies for inherited retinal diseases (IRDs), has successfully closed a $141 million Series B financing round, marking a significant milestone in its work.
The round was co-led by Schroders Capital as well as existing investors Atlas Venture and Forbion and several new backers.
The proceeds from the financing will support:
- Completion of proof-of-concept for AAVantgarde’s AAVB-039 CELESTE study for Stargardt disease caused by a mutation in the ABCA4 gene, along with the completion of the STELLA natural history study involving over 100 patients.
- Completion of proof-of-concept for AAVantgarde’s AAVB-081 LUCE Phase 1/2 trial for retinitis pigmentosa (RP) secondary to Usher 1B, caused by a mutation in the MYO7A gene.
Stargardt disease is the most common macular dystrophy in young people and there are currently no approved treatments. AAVantgarde’s AAVB-039 program targets the root genetic cause of the disease, mutations in the ABCA4 gene, using gene augmentation therapy to deliver the full-length ABCA4 protein. This approach enables treatment for any patient, regardless of the specific mutation.
Similarly, retinitis pigmentosa (RP) secondary to Usher syndrome 1B is a rare and devastating inherited retinal disease caused by mutations in the MYO7A gene. Usher 1B leads to progressive vision loss combined with congenital deafness, resulting in a dual sensory impairment. AAVantgarde’s AAVB-081 program addresses the underlying genetic defect by delivering the full-length MYO7A protein through gene augmentation, offering a potential treatment that could improve the lives of patients affected by this condition.
“This investment is a strong endorsement of our team, our science, and two clinical IRD programs,” said Dr. Natalia Misciattelli, CEO of AAVantgarde. “Both programmes address the root genetic causes of devastating conditions and offer hope of improvement to patients and families living with progressive vision loss.”
Victoria House: Incubating Growth
Earlier this year, AAVantgarde Bio moved into the premium incubator laboratory space on Victoria House’s 24,000 sq ft seventh floor and secured serviced office space in the building, joining a community designed for budding and seasoned biotech professionals applying advanced therapies and artificial intelligence to healthcare. The Incubation Labs provide a unique space to grow transformative ideas while cultivating a collaborative network, accelerating early-stage life sciences companies through affordable access to advanced scientific equipment, flexible lab space and expert support.
Find out more about Victoria House and discover available space.