12:26 PM
 | 
Jun 13, 2018
 |  BC Extra  |  Financial News

AAV plasmid company StrideBio raises $15.7M series A

StrideBio Inc. (Durham, N.C.) raised $15.7 million in a series A round led by existing investor Hatteras Venture Partners with participation from new investors Takeda Ventures, UCB Ventures and Alexandria Venture Investments. StrideBio COO Richard Smith told BioCentury the round gives the adeno-associated viral vector plasmid company a cash runway into 2019.

StrideBio is developing preclinical AAV capsids. According to Smith, the capsids are designed to avoid neutralizing antibodies in the liver, muscle, eye and CNS tissues while retaining tropism, transduction efficiency and capacity for manufacture. The company plans to focus on treating rare diseases.

In 2017, StrideBio partnered with Casebia Therapeutics to develop AAV vectors for CRISPR-associated protein 9 (Cas9)-based therapeutics with improved tissue specificity and reduced susceptibility to immune responses. CRISPR Therapeutics AG (NASDAQ:CRSP) and Casebia, CRISPR's JV with Bayer AG (Xetra:BAYN), have an option to exclusively license AAV vectors from StrideBio for use in their in vivo gene editing programs.

Takeda Ventures' Jayson Punwani and UCB Ventures' Erica Whittaker joined StrideBio's board. UCB Ventures said Wednesday's financing was the firm's first direct investment.

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