Apic Bio Secures $40 Million Series A Financing to Advance Gene Therapies for Rare Genetic Disorders

VCBeat (WeChat Official Account: vcbeat) has learned that Apic Bio, a novel gene therapy company based in the United States, recently announced the completion of a $40 million Series A financing round. The round was led by Morningside Venture, with participation from existing investors Alpha-1 Project and A1ATD Investors, as well as new investor ALS Investment Fund.

Since its establishment in 2017, Apic Bio has raised approximately $51 million. Previously, the company secured a $1 million angel round from the Alpha-1 Project and Edward Krapels in 2017, followed by a $10 million venture capital financing round in 2018.

Apic Bio is affiliated with the University of Massachusetts Medical School. The company’s leadership team comprises John Reilly, CEO and Co-Founder; Dr. Scott Loiler, Chief Technology Officer; and Dr. Chris Mueller, Co-Founder and Associate Professor of Pediatrics at UMass Medical School. Currently, the company is developing optimal therapeutic solutions for rare, devastating neurological and hepatic disorders. Apic Bio’s current research focus is on identifying novel and effective treatments for Alpha-1 Antitrypsin Deficiency (Alpha-1, or AATD) and hereditary Amyotrophic Lateral Sclerosis (ALS).

It is reported that the proceeds from this financing round will be used to advance Apic Bio’s APB-101 and APB-102 candidates, as well as its preclinical Alpha-1 and ALS programs, including AAT gene insertion technology and C9orf72 mutation targeting. Additionally, following this financing, Dr. Jason Dinges of Morningside Venture Partners and JD have joined Apic Bio’s Board of Directors, while Felix von Coerper of the ALS Investment Fund has become a board observer.

John Reilly, CEO and Co-Founder of Apic Bio, stated, “Hereditary rare diseases remain an unmet challenge in the field of gene therapy. We believe that our company’s breakthrough research can provide effective treatments for patients.”

Dr. Jason Dinges, an investment advisor at Morningside Venture, stated, “Apic Bio has laid a solid foundation for gene therapy approaches targeting Alpha-1 Antitrypsin Deficiency and ALS. The company’s research contributes to the development of treatments for rare genetic disorders.”

Felix von Coper, Investment Manager at ALS Investment Fund, also stated, “Apic Bio offers an innovative therapy for hereditary amyotrophic lateral sclerosis (ALS). Our partnership with Apic Bio will not only generate significant impact in the field of ALS but also deliver stable financial returns to our investors.”

Morningside Venture is a diversified private investment group founded by the Chen family of Hong Kong in 1986. Morningside is an active investor in early-stage life sciences companies, primarily engaging in private equity and venture capital investments across North America, Europe, and the Asia-Pacific region. Since 1992, China has gradually become a key region for Morningside’s investment activities.

ALS Investment Fund is an investment firm dedicated to supporting and funding biotechnology companies in their research and development of drugs for amyotrophic lateral sclerosis (ALS). The fund invests globally, with a particular focus on Europe and the United States. As a disease-specific venture capital firm, ALS Investment Fund has conducted in-depth research in the field of amyotrophic lateral sclerosis and made a significant impact.