BioCentury
ARTICLE | Finance

Conjugate company Avidity preps for first dystrophy study with $100M series C

With fresh cash, new CEO, Avidity will build a musculoskeletal pipeline while looking beyond to other areas

November 13, 2019 1:01 PM UTC
Updated on Nov 13, 2019 at 9:44 PM UTC

Avidity’s $100 million series C round will allow it to evaluate clinical proof of concept for the first antibody-oligonucleotide conjugate from its platform. The company believes it can also fund early clinical development of a second program while allowing Avidity to explore further uses of its technology in areas beyond muscle disorders.

Avidity Biosciences Inc. has selected a mAb to test in its first clinical trial, and CSO Arthur Levin told BioCentury the company is “in the process of finalizing selection of sequence” for its first indication, myotonic dystrophy type 1 (DM1). Using its platform, Avidity can deliver an RNA-modulating oligonucleotide via a linked antibody that allows it to target tissues outside the liver, overcoming a challenge that has traditionally dogged oligo therapies (see “Targeted Oligos Get Boost From ADCs”)...

BCIQ Company Profiles

Avidity Biosciences Inc.