Audentes Therapeutics Plans to Raise up to $86M in IPO
January 04, 2016
Gene therapy startup Audentes Therapeutics filed for an IPO that would raise up to $86 million.
The San Francisco company led by CEO Matthew R. Patterson develops gene therapy treatments for X-Linked Myotubular Myopathy (XLMTM), a condition that primarily affects muscles used for movement and occurs nearly exclusively in males. It kills one in every 50,000 newborn boys by the time they reach two years old.
The company filed IPO plans confidentially in early November, about a month after it raised $65 million in a Series C round from new crossover investors and existing venture capital backers.
Participating in the Series C round were new investors RA Capital Management, funds and accounts advised by T. Rowe Price Associates Inc. (NASDAQ: TROW), Rock Springs Capital Management LP, Cormorant Asset Management LLC, Cowen Private Investments and Foresite Capital as well as existing investors Orbimed, 5AM Ventures, Versant Ventures, Deerfield Management Co. and Venrock.
Audentes said in its filing that is had had no revenue and accumulated a deficit of nearly $31 million by the end of September.
It plans to list on the Nasdaq under the symbol BOLD.
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