BRIEF—Passage Bio raises $110 million in financing

Genetic medicines company Passage Bio has raised $110 million in a series B financing round led by Access Biotechnology, with participation from existing investors.

The firm, which is focused on developing AAV-delivered gene therapies for the treatment of rare monogenic central nervous system (CNS) diseases, said it would use the money to initiate clinical trials for its lead programs.

Passage Bio is developing candidates targeting GM1 gangliosidosis and frontotemporal dementia (FTD), and expects to launch trials in the first half of 2020.