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Capsida unveils $140M, AbbVie alliance & tech that takes gene therapy to the brain
Capsida Biotherapeutics’ technology can engineer viral vectors that deliver gene therapies to central nervous system cells. With that capability, the startup was able to raise $50 million in Series A financing and a multi-drug research alliance AbbVie.
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Gene therapy developers rely on engineered viruses to carry genetic cargo to cells. Adeno-associated virus, the viral vector that has been the backbone of this burgeoning field, shows a particular preference for targeting liver cells. That’s great for liver disorders or diseases associated with proteins produced by the liver, but the inability to target other cells limits gene therapy’s reach.
Capsida Biotherapeutics Inc., a Thousand Oaks, CA-based biotechnology company using an adeno-associated virus (AAV) engineering and cargo development platform to develop tissue-targeted gene therapies for multiple types of diseases, raised $140m in Series A funding.
Backers included Versant Ventures and Westlake Village BioPartners, which together provided $50m. Capsida also announced a multi-year strategic collaboration and option agreement with AbbVie that provides $90m in up front and equity investment capital in addition to potential future option, development and commercial milestone payments. The collaboration is aimed at developing targeted gene therapies for three programs in serious neurodegenerative diseases.
Led by Robert Cuddihy, M.D., chief executive officer, Capsida provides an AAV engineering platform that generates capsids optimized to target specific tissue types and limits transduction of tissues and cell types that are not relevant to the target disease, allo
Capsida Biotherapeutics Debuts with $140 Million of Capital
- Versant, Westlake Village BioPartners launch next-generation gene therapy company with $50 million Series A -
- Collaboration with AbbVie provides $90 million in up front and equity investment capital to create tissue-targeted gene therapies for three CNS disease targets -
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THOUSAND OAKS, Calif., April 29, 2021 /PRNewswire/ Versant Ventures and Westlake Village BioPartners today announced the emergence from stealth mode of Capsida Biotherapeutics Inc., a biotechnology company using an adeno-associated virus (AAV) engineering and cargo development platform to develop tissue-targeted gene therapies for multiple types of diseases. In addition to a $50 million Series A commitment from the two firms, Capsida also announced a multi-year strategic collaboration and option agreement with AbbVie that provides $90 million in up front and equity investment capital in addit
Newbury Park biotech startup Capsida Biotherapeutics on Thursday emerged from stealth mode with a whopping $140 million in capital.
“Stealth mode,” meaning a company that avoids publicity while furthering its research, ended with a $50 million Series A round led by Westlake Village BioPartners in Westlake Village and Bay Area Versant Ventures, coupled with a $90 million collaboration with AbbVie in Chicago, Capsida said in a statement.
The company plans to use capital to expand its 50-member team to about 100 scientists this year and pursue other strategic and financial investment opportunities.
Capsida focuses on creating tissue-targeted gene therapies for multiple types of diseases, the company said in a statement. These therapies are developed using adeno-associated virus, or AAV engineering, and a genetic cargo development platform. The technology generates modified capsids, or a “cage” that protects a viral genome from environmental conditions, to be more easily t