Prevail Therapeutics Secures $50 Million Series B Financing to Advance Gene Therapies for Parkinson’s Disease

VCBeat (WeChat Official Account: vcbeat) learned from foreign media that on March 28, U.S. local time, biotechnology company Prevail Therapeutics completed a $50 million Series B financing round to advance research into gene therapies for neurodegenerative diseases.

It is reported that this round of financing was jointly completed by Surveyor Capital, AbbVie Biotech Ventures, and several undisclosed investors.

Prevail Therapeutics, headquartered in New York, is a biotechnology company dedicated to developing novel gene therapies for patients with Parkinson’s disease and other neurodegenerative disorders. Parkinson’s disease is a chronic, neurodegenerative condition. Although it is classified as a movement disorder, most commonly characterized by resting tremor, bradykinesia, rigidity, and gait disturbances, current research has revealed that Parkinson’s disease also impacts nervous system function. Patients may experience various neurological complications, including sleep disturbances, cognitive and psychiatric impairments, and blood pressure dysregulation.

Recent gene-mapping efforts have identified dozens of genetic variants in the human genome that are potential contributors to Parkinson’s disease. For example, mutations in the GBA1 gene are now known to be highly likely to trigger Parkinson’s disease. GBA1 encodes glucocerebrosidase, an enzyme essential for the processing and recycling of glycolipids—a class of cellular lipid components that accumulate with aging and can become toxic when they reach certain levels. Prevail Therapeutics is focused on developing gene therapies that directly address the genetic causes of Parkinson’s disease, such as those involving GBA1.

Breakthrough Advances in Gene Therapy Bring New Hope to Patients with Parkinson’s Disease and Related DisordersPrevail Therapeutics is developing adeno-associated virus (AAV)-based gene therapies for the treatment of neurodegenerative diseases. AAV is a small, non-replicating virus that does not cause disease in humans and can serve as a shuttle vector to deliver engineered DNA into human cells. Prevail Therapeutics has currently obtained an exclusive global license from REGENXBIO, a leading clinical-stage gene therapy company, to use REGENXBIO’s AAV vectors for the development and commercialization of gene therapy products.

“Since 2017, Prevail Therapeutics has made significant progress in advancing gene therapies with the potential to slow or halt the progression of neurodegenerative diseases,” said Asa Abeliovich, Founder and Chief Executive Officer of Prevail Therapeutics.

Surveyor Capital analyzes global markets with discipline and focus, employing a range of strategies to strive for market-leading investment returns for its capital partners.

AbbVie Biotech Ventures is a global, research-based biopharmaceutical company. The company’s mission is to leverage its expertise, talent, and unique innovative approaches to develop and promote advanced therapies that address some of the world’s most complex and serious diseases.

(Compiled by Liu Yujing)