Neurogene closes $115m series B financing

The financing round was led by EcoR1 Capital, with participation from existing investors Redmile Group, Samsara BioCapital, Cormorant Asset Management and an undisclosed leading healthcare investment fund. New investors include funds and accounts managed by BlackRock, funds managed by Janus Henderson Investors, Casdin Capital, Avidity Partners, Ascendant BioCapital, Arrowmark Partners, and Alexandria Venture Investments.

Proceeds from the financing will be used to advance Neurogene’s portfolio of multiple gene therapy programs into the clinic; accelerate investment in novel gene therapy product designs and Neurogene’s technology platform addressing key limitations in conventional gene therapy, and build out Neurogene’s state-of-the-art adeno-associated virus (AAV) vector GMP manufacturing capabilities.

“Gene therapy has generated tremendous hope for the many families and patients with severe genetic disorders. We believe our focus on improved product design, innovative technology, cutting-edge vector manufacturing and premier analytics will help fulfill the potential of genetic treatments,” said Rachel McMinn, Ph.D., Founder and Chief Executive Officer. “Proceeds from this round of financing will help us execute on our mission to develop safe and effective genetic therapies for patients and families living with neurological diseases.”

Oleg Nodelman, Founder and Portfolio Manager of EcoR1 Capital stated, “Neurogene is establishing itself as a leader in the gene therapy arena for neurological diseases. We are impressed by the Company’s innovation and accomplishments to date and are pleased to provide our support to Neurogene to advance medical research in this rapidly evolving area.”

Neurogene is focused on developing life-changing genetic medicines for patients and their families affected by rare, devastating neurological diseases.

We partner with leading academic researchers, patient advocacy organizations and caregivers to bring therapies to patients that address the underlying genetic cause of a broad spectrum of neurological diseases where no effective treatment options currently exist. Our lead programs use adeno-associated virus (AAV) vector-based gene therapy technology to deliver a normal gene to patients with a dysfunctional gene.

Source: Company Press Release