Massachusetts-based biotech start-up Avrobio has raised $60m in a series B funding round col-led by Cormorant Asset Management and Surveyor Capital. Avrobio has developed a gene therapy for Fabry disease, a lysosomal storage disorder which allows fatty deposits to build up in the body. The company is also developing an oral drug that targets the enzyme responsible for converting fat into triglycerides - known as PPAR-delta. Besides financing Phase 2 testing of the Fabry disease gene therapy, MacKay says the capital will support the company’s work on gene therapies for three other lysosomal storage disorders. The latest funding, which followed a $25m series A in 2016, will be used to begin a phase 2 trial of the gene therapy AVR-RD-01.
Massachusetts-based biotech start-up Avrobio has raised $60m in a series B funding round col-led by Cormorant Asset Management and Surveyor Capital. Avrobio has developed a gene therapy for Fabry disease, a lysosomal storage disorder which allows fatty deposits to build up in the body. The company is also developing an oral drug that targets the enzyme responsible for converting fat into triglycerides - known as PPAR-delta. The latest funding, which followed a $25m series A in 2016, will be used to begin a phase 2 trial of the gene therapy AVR-RD-01.