OrbiMed Advisors has led a $30m Series A round for San Francisco-based biotech company Audentes Therapeutics, which develops treatments for rare muscle diseases.
Venture capital firms 5AM Ventures and Versant Ventures also participated in the round.
The company will use the funds to advance its two lead programmes, AT001 for X-linked Myotubular Myopathy and AT002 for Pompe disease, as well as to evaluate additional candidate programmes.
Audentes CEO Matthew Patterson said, “This financing is a tremendous step forward for the development of new potential treatments for patients affected by very serious orphan muscle diseases. I’m delighted to have the opportunity to work with such a fantastic group of people who share our vision for success in bringing these therapies to patients.
“Our focused, experienced team is committed to advancing the promising scientific approach of gene therapy and looks forward to collaborating closely with our patient, research, and medical community partners in this process.”
Last month OrbiMed led an $18m round for root canal cleaning technology business Sonendo.
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