Generation Bio Announces $100 Million Series B Financing to Advance GeneWaveTM Platform for Re-Dosable Gene Therapy
Financing led by Fidelity Management & Research Company, with Invus, Deerfield Management Company, Casdin Capital, Foresite Capital and Leerink Partners’ Affiliates
CAMBRIDGE, Mass., Feb. 27, 2018 – Generation Bio, a company developing the first genetic medicines that can be titrated to effect and re-dosed for a lifetime of benefit, today announced the closing of a $100 million Series B financing. Proceeds will be used to move Generation Bio’s first two therapeutic candidates through Investigational New Drug (IND) enabling studies and to advance additional programs targeting genetic diseases of the retina, central nervous system and lungs.
“We are delighted to have the support of this group of expert, long-term investors who share our vision to create a generation of people living unaffected by genetic disease,” said Geoff McDonough, M.D., president and chief executive officer of Generation Bio. “This will be a critically important year for us as we develop the GeneWave platform and work towards our first development candidates to address rare diseases of the liver. The round will also support the development of approaches to deliver ceDNA to other tissues such as the eye, the central nervous system and the lungs.”
Generation Bio is developing its proprietary GeneWave technology to create a new class of genetic medicines that can be titrated to effect and re-dosed to optimally impact each patient’s disease from birth to adulthood with durable transgene expression. These therapies are designed to overcome the immunogenicity associated with viral-vector gene therapies, which has historically limited the number of patients that can be treated and prevented re-dosing. Since its founding in 2016, Generation Bio has demonstrated durable, dose-dependent expression and the ability to increase expression in the liver with re-dosing in vivo with the GeneWave platform.
“Generation Bio is creating a breakthrough category of therapeutics and is positioned to be a leader in the gene therapy field,” said Jason Rhodes, a partner at Atlas Venture and a founder and chairman of Generation Bio’s board of directors. “We are excited to have this exceptional group of investors join our efforts to create the first-ever genetic medicines with drug-like properties.”
About Generation Bio
Generation Bio is a biotechnology company developing a breakthrough class of genetic medicines to enable a new generation of people unaffected by inherited disease. The company’s therapies are based on its proprietary GeneWaveTM technology, which delivers durable, high levels of gene expression and can be re-dosed to titrate to effect and to sustain impact over a lifetime. Generation Bio was founded and launched by Atlas Venture and is headquartered in Cambridge, Mass. For more information, please visit www.generationbio.com or follow @generationbio.
Ten Bridge Communications