Avidity Biosciences raises $16M

What does Avidity Biosciences do?

Avidity Biosciences, is a company which offers research, development and drug candidates manufacturing which includes antibody siRNA complexes. This platform unites two of the most impact creating innovation over the past 20 years- oligonucleotides and antibodies- for creating new class of precision medicines. This company links a monoclonal antibody, which is designed against a specific molecular target with siRNA therapeutic payload, enabling the conjugate for having unmatched selectivity and specificity. In preclinical models, this model has shown potential to knockdown messenger RNA level in many important tissues and cell types, including lung, tumor, heart, B cells and liver.

How much Avidity Biosciences was funded?

The company raised $10M in Series B on January 5, 2017 from Tavistock Life Sciences,  F-Prime Capital Partners, Moore Venture Partners,  EcoR1 Capital, Alexandria Real Estate Equities, Brace Pharma, Takeda Pharmaceutical and Alethea Capital Management

Previous funding

$9.07M in Series A on February 18, 2014

$6M in Series B on October 7, 2014 from TPG Biotech, F-Prime Capital Partners, Alethea Capital Management and  Partner Fund Management

What is next for Avidity Biosciences?

The company  has new board of directors, Michael Martin and Todd Brady and Tony Hsu, will join the board as a non-voting member.

More about Avidity Biosciences

Avidity Biosciences was founded in 2012 by Frank McCormick. It has its headquarters in La Jolla, California. This privately held biotechnology company is precision medicines’s new class- Antibody-siRNA Conjugates- which is a combo of strengths of therapeutics based on siRNA and monoclonal antibodies. The company is working with partners for discovering the best of drug candidates against main undrugged therapeutic targets. The company entered research collaboration with the lead biopharma organizations and are seeking partnerships actively. The company offers a compelling approach which is building on success with antibodies, oglinucleotide-based therapeutics and ADCs.