Avidity makes precision funding move to raise $16m

Jan 10, 2017 • Robert Lavine

Precision medicine company Avidity Biosciences has received $10m in equity funding and $6m in converted debt from backers including Takeda and EMS.

US-based precision medicine developer Avidity Biosciences has closed a $16m series B round led by pharmaceutical company Takeda Pharmaceuticals through its Takeda Ventures unit.

The round, which consisted of $10m in equity funding and the conversion of $6m of convertible debt, also featured real estate developer Alexandria Real Estate Equities and Brace Pharma Capital, the corporate venturing subsidiary of pharmaceutical company EMS.

Investment advisors Alethea Capital Management and EcoR1 Capital, venture capital fund Moore Venture Partners, VC firm Tavistock Life…

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