Gene Therapy Company AavantiBio Launches with $107 Million Series A Financing from Perceptive Advisors, Bain Capital Life Sciences, RA Capital Management and Sarepta Therapeutics
Excerpt from the Press Release:
CAMBRIDGE, Mass., Oct. 22, 2020 (GLOBE NEWSWIRE) — A premier syndicate of life sciences investors including Perceptive Advisors, Bain Capital Life Sciences (“Bain Capital”), and RA Capital Management (“RA Capital”) (collectively the “Investor Group”) together with Sarepta Therapeutics, Inc. (“Sarepta”) (NASDAQ: SRPT), a leader in precision genetic medicine for rare diseases, today announced a $107 million Series A financing to create AavantiBio, a gene therapy company focused on transforming the lives of patients with rare genetic diseases. The private financing round includes a $15 million equity investment from Sarepta.
Alexander “Bo” Cumbo, a seasoned biopharmaceutical executive, has been appointed AavantiBio’s Chief Executive Officer and President, effective immediately. Mr. Cumbo joins the Company after eight years at Sarepta, where he served as Chief Commercial Officer and Executive Vice President. He will continue to serve as an advisor to Sarepta through December 31, 2020.
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