LogicBio is developing treatments for orphan paediatric diseases, based on research conducted at Tel Aviv University, Stanford University and Children's Medical Research Institute.
US-based preclinical-stage gene-therapy developer LogicBio Therapeutics has raised $45m in an oversubscribed series B round that was led by venture capital firm Arix Bioscience.
The round included OrbiMed, Edmond De Rothschild Investment Partners, Pontifax, SBI and OrbiMed Israel Partners.
Founded in 2014, LogicBio is working on therapies for rare, life-threatening paediatric genetic diseases of the liver that have few, if any, treatment options.
The company’s approach is based on research conducted by Adi Barzel at Tel Aviv University, Leszek Lisowski, at Children’s Medical Research Institute, Australia, and Mark Kay at Stanford University School of Medicine.
The cash injection will go towards the completion of pre-clinical development and advancement of the company’s lead candidates into clinical studies. Daniel O’Connell, investment manager at Arix, will join LogicBio’s board of directors.
LogicBio has now raised approximately $50m in funding to date. The company has not released details about its series A round, though OrbiMed Israel Partners was named as a returning investor for the latest investment.
Joe Anderson, CEO of Arix Bioscience, said: “Early intervention for rare genetic disorders in children is important and LogicBio is uniquely positioned at the forefront of this research area with its proprietary genetic therapy technology to deliver a durable cure for young patients with life-threatening genetic diseases and otherwise limited options.
“LogicBio has huge potential and, alongside its excellent team and investors, we look forward to supporting the company to achieve continued success in this area.”
