StrideBio Closes $15.7 Million Series A Financing to Advance Transformational AAV Platform
DURHAM, N.C., June 13, 2018 /PRNewswire/ — StrideBio, Inc, a US-based company developing novel AAV vectors for in vivo gene therapies announced today that it had closed an oversubscribed Series A Financing Round of $15.7 million. The financing was led by Hatteras Venture Partners. Co-investors include Takeda Ventures, Inc., UCB Ventures, and Alexandria Venture Investments, LLC. Jayson Punwani, PhD, Partner, Takeda Ventures, Inc. and Erica Whittaker, PhD, Vice President, Head of UCB Ventures have joined StrideBio’s Board of Directors. The new Board members join existing members, including H. Stewart Parker, who recently joined the Board as an independent Director.
StrideBio’s AAV vector development platform uses structure-guided evolution to discover novel capsids with a reduced antibody binding profile in multiple tissues, including: liver, muscle, eye and central nervous system, with improved properties for in vivo gene delivery applications. The underlying technology is based on the work of co-founders, Dr. Aravind Asokan at the University of North Carolina at Chapel Hill and Dr. Mavis Agbandje-McKenna at the University of Florida.
“Stride is built on our deep understanding of AAV biology and structure to develop novel and differentiated AAV capsids to overcome performance challenges faced by this vector system,” said Dr. Agbandje-McKenna. “We believe our innovative platform will create vectors that substantially impact the way devastating rare diseases are treated and we look forward to working with our new investors to achieve this important goal.”
“StrideBio is quickly becoming a leading gene therapy company for rare diseases,” said Clay Thorp, General Partner, Hatteras Venture Partners. “We are excited to be joined by three new investors and to continue our support as the company rapidly grows.”
About StrideBio, Inc.
StrideBio, Inc is a gene therapy company focused on creating and developing novel adeno-associated viral (AAV) vector technologies and therapeutics for rare diseases. Our STRucture Inspired DEsign approach holds the potential to generate unique AAV capsids capable of overcoming the challenges of pre-existing neutralizing antibodies and improving gene transfer efficiency in patients. This powerful new approach has broad application, enabling gene addition, gene silencing and gene editing modalities for a wide range of diseases, including rare genetic diseases. StrideBio is headquartered in Durham, NC. For more information, please visit www.stridebio.com.
About Hatteras Venture Partners
Hatteras Venture Partners is a venture capital firm based in Durham, NC with a focus on seed and early stage healthcare investing. The firm focuses on biopharmaceutical, healthcare IT, medical device, and diagnostic opportunities. Hatteras has approximately $450 million under management in five venture capital funds. The firm is led by a seasoned team of entrepreneurs and operators and has a long and successful track record of seed and early stage investing and company formation. To learn more about Hatteras Venture Partners, please visit www.hatterasvp.com.
About Takeda Ventures, Inc.
Takeda Ventures, Inc. (TVI) is the corporate venture capital group of Takeda Pharmaceutical Company Limited (Takeda), and was founded in 2001 with the vision of generating disruptive technologies and therapeutic solutions for patients through venture-based partnerships. TVI’s mission is to create strategic growth opportunities for Takeda by building, managing and investing in innovation-based companies. TVI partners with academic innovators, entrepreneurs and venture investors to create and nurture a portfolio of companies in an array of therapeutic areas, including oncology, gastroenterology and neuroscience. For additional information, please visit www.takedaventures.com.
About UCB Ventures
UCB Ventures is a €150 million strategic corporate venture fund established in 2017 to further strengthen UCB’s ability to create value from novel insights and technologies that can transform the lives of patients suffering from severe diseases. UCB Ventures invests in innovative therapeutics and technology platforms that are early stage and higher risk, in areas adjacent to or even beyond UCB’s therapeutic focus on neurology/neurodegenerative diseases, immunology and muscular skeletal/bone health. UCB Ventures takes an active role in its portfolio companies, contributing expertise in drug discovery, development and operations. Visit www.UCBVentures.com to learn more.
About Alexandria Venture Investments
Alexandria Venture Investments, founded in 1996, is the strategic venture capital arm of Alexandria Real Estate Equities, Inc. (NYSE: ARE). Alexandria Venture Investments focuses on novel, breakthrough discoveries in biopharma, diagnostics, research tools, agtech and technology. Based on its experience and in-depth understanding of the life science and technology industries, its long-term relationships with leading investors and its world-class scientific advisory network, Alexandria Venture Investments is uniquely positioned to fund seed-, early- and growth-stage companies.
Richard E. T. Smith, PhD
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SOURCE StrideBio, Inc