University of Pennsylvania-allied CNS disease therapy developer Passage Bio lured contributions from investors including Lilly Asia Ventures, which also featured in its $116m series A earlier this year.
US-based, University of Pennsylvania-linked genetic medicine developer Passage Bio completed a $110m series B round yesterday led by Access Biotechnology, the life sciences investment vehicle for diversified conglomerate Access Industries.
Lilly Asia Ventures, a corporate venturing subsidiary of pharmaceutical firm Eli Lilly, also took part, as did OrbiMed, Frazier Healthcare Partners, Versant Ventures, New Leaf Venture Partners, Vivo Capital, Boxer Capital, Highline Capital Management, Logos Capital and Sphera Funds Management.
Founded in 2018, Passage Bio is developing therapies to treat rare monogenic diseases affecting the central nervous system (CNS).
The company has a research, collaboration and licensing agreement in place with University of Pennsylvania’s Orphan Disease Center and Gene Therapy Program, which is carrying out preclinical work on its product candidates.
The series B cash is expected to fund the entry of drug candidates for GM1 gangliosidosis and frontotemporal dementia into clinical trials in the first…
