AAVantgarde Closes $141 Million Series B Financing Round to Advance Clinical Programs

LONDON and MILAN—AAVantgarde Bio, a clinical-stage, biotechnology company developing therapies for inherited retinal diseases (IRDs), has announced the successful closing of a $141 million Series B financing round. Proceeds from the financing will support completion of clinical proof of concept of the company’s AAVB-039 CELESTE study for Stargardt disease as well as clinical proof of concept of its AAVB-081 LUCE phase 1/2 clinical trial for retinitis pigmentosa (RP) secondary to Usher 1B, the company advised. It will also support completion of the company’s more than 100-patient STELLA natural history study, the announcement stated.