Neurogene Secures $68.5M Series A Financing to Advance Gene Therapies for Rare Neurological Diseases

VCBeat (WeChat ID: vcbeat) has learned that on February 12, 2019, pharmaceutical R&D company Neurogene announced the completion of a $68.5 million Series A financing round. Investors included Samsara BioCapital, EcoR1 Capital, Cormorant Asset Management, and Redmile Group. Additionally, an unnamed investment firm also participated in this round of financing.

The funds will be used by Neurogene to advance its multiple gene therapy programs, including conducting independent research initiatives and clinical trials for patients with rare neurological disorders, developing new technologies for diseases that cannot be addressed by conventional gene therapy approaches, and establishing viral vector manufacturing facilities.

Neurogene was founded in January 2018 with the aim of providing novel therapeutics to individuals suffering from rare neurological disorders. By collaborating with academic researchers, patient advocacy groups, and caregivers, the company delivers innovative gene therapies to address the underlying genetic causes of neurological conditions that currently lack effective treatments.

Neurogene is researching treatments for AGU and CMT4J. It is understood that both AGU and CMT4J are severe lysosomal storage disorders. AGU subjects patients to developmental delays and reduced life expectancy, while CMT4J poses a fatal threat, causing symptoms such as quadriplegia, respiratory distress, and muscle atrophy. Currently, there are no effective treatment options for AGU and CMT4J, and misdiagnosis is frequent.

Upon completion of this funding round, Neurogene will transition its research programs for AGU and CMT4J into its proprietary pipeline. In addition, the company will initiate two new research programs targeting lysosomal storage diseases.

Rachel McMinn, Founder and CEO of Neurogene, stated, “Currently, the vast majority of rare neurological disorders lack effective treatment options. Neurogene is building a brighter future for these patients. We are developing gene therapy programs for individuals with rare neurological disorders by leveraging our in-house expertise and the support of our partners.”

Samsara BioCapital is an investment firm based in California, USA, dedicated to providing investors with investment and advisory services.

EcoR1 Capital, established in 2012, is a venture capital firm headquartered in California, USA, that specializes in investing in biotechnology companies. The firm drives medical advancement by investing in biotech companies with significant potential.

Cormorant Asset Management is an employee-owned hedge fund headquartered in Massachusetts, United States. The firm primarily provides portfolio management and advisory services to clients worldwide.

Redmile Group focuses on venture capital and private equity investments in the healthcare sector. Founded in 2007, the firm is headquartered in California, USA.

(Compiled by Jiao Yanli)