StrideBio Announces Closing of $81.5M Series B Financing
Summary
RESEARCH TRIANGLE PARK, N.C., March 16, 2021 /PRNewswire/ -- StrideBio, Inc., a leading developer of novel engineered adeno-associated virus (AAV) based gene therapies, today announced the closing of an oversubscribed Series B funding round, which raised $81.5 million. "AAV vectors are proven to be one of the most effective strategies for delivering gene therapies for a variety of human diseases, but there is room for improvement," said Shaan C. Gandhi, M.D., D.Phil., Director at Northpond Ventures. Financing proceeds will be used to advance the companys robust pipeline to the clinic, including four new wholly-owned programs targeting monogenic central nervous system (CNS) and cardiovascular disorders. Funds raised as part of the Series B will be used to support continued operational growth and manufacturing capacity expansion, building on the companys current infrastructure which includes a 6,000 sq ft GMP clean suite. Founded in 2015 based on the groundbreaking research of Mavis Agbandje-McKenna, Ph.D., and Aravind Asokan, Ph.D., StrideBio, Inc., is a fully integrated gene therapy company focused on creating best-in-class genetic medicines with life-changing or curative potential for children and adults.