US-based biotech Prevail Therapeutics has received $75m in Series A funding to advance gene therapies for neurodegenerative disorders, including Parkinson’s disease.
Investors involved in the round of funding include: OrbiMed, Pontifax Fund, RA Capital Management, EcoR1 Capital, Omega Funds, BVF Partners, Boxer Capital, Adage Capital Management and Alexandria Venture Investments.
Prevail also received seed funding from OrbiMed and the Silverstein Foundation for Parkinson’s with GBA.
The company’s adeno-associated virus (AAV)-based therapeutics pipeline is intended to target lysosomal dysfunction to treat patients suffering from genetically-defined neurodegenerative conditions.
Prevail’s lead programme, PR001, focuses on a genetic subset of Parkinson’s disease and additional mechanistically-related disorders.
Prevail Therapeutics founder and CEO Asa Abeliovich said: “This financing supports our plan to develop a pipeline of gene therapies with the potential to dramatically improve the lives of patients with a range of genetically-defined neurodegenerative diseases.
“Our lead programme will target patients with Parkinson’s disease, and we plan to address additional disease areas where lysosomal dysfunction is an underlying cause.”
The firm has an exclusive worldwide licence agreement to commercialise gene therapy products using Regenxbio’s NAV AAV9 vector to treat neurodegenerative diseases.
Silverstein Foundation founder Jonathan Silverstein said: “Prevail’s mission to develop gene therapies that address the underlying genetic causes of neurodegenerative disease is aligned with our commitment to identify treatments that can halt the progression of Parkinson’s and other diseases.
“The company has assembled an excellent team to accomplish this mission, including executive management, scientific advisors, and board members, and I look forward to working with them to make a difference for patients.”