Californian gene therapy company Adverum Biotechnologies (Nasdaq: ADVM) has announced the raising of around $128 million in a private placement.
The firm, which is working on gene therapies for highly prevalent ocular diseases, said it was selling the shares at a premium of approximately 20%.
Like many firms leveraging this form of advanced therapy, Adverum is focused on a therapeutic area which is particularly well suited to the approach, given that the eye offers a slow rate of cell degeneration and therefore a long window for affected cells to be repaired.
This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.
Login to your accountTry before you buy
7 day trial access
Become a subscriber
Or £77 per month
The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed
Chairman, Sanofi Aventis UK
Copyright © The Pharma Letter 2024 | Headless Content Management with Blaze