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Rare Muscle Diseases Company Secures $30M Financing

San Francisco-based Audentes Therapeutics announced the closing of a $30 million Series A financing.

A recently founded biotechnology company, Audentes is dedicated to the development of innovative treatments for rare muscle diseases. The funding will allow Audentes to further advance its two lead programs, AT001 for X-linked Myotubular Myopathy (XLMTM) and AT002 for Pompe disease, and to evaluate additional candidate programs. Both AT001 and AT002 are innovative, novel treatments based on adeno-associated virus (AAV) gene therapy technology.

The financing was led by OrbiMed Advisors with the participation of 5AM Ventures and Versant Ventures.

Audentes, headquartered in San Francisco, CA, was founded by Mr. Patterson in November, 2012 in collaboration with Thomas J. Schuetz, M.D., Ph.D. and OrbiMed Advisors. The Audentes Board of Directors will consist of Jonathan Silverstein (OrbiMed Advisors), who will serve as Chairman, Kush Parmar, M.D., Ph.D. (5AM Ventures), Thomas Woiwode, Ph.D. (Versant Ventures), Dr. Schuetz, who will act as an independent director, and Mr. Patterson.

BayBio’s NorCal News page has the entire release from Business Solutions provider Business Wire.