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Quickfire megarounds tee Passage Bio up for gene therapy trials

September 05, 2019 / Nick Paul Taylor

Passage Bio has raised its second megaround of 2019. Months after breaking cover with a $115.5 million series A, the James Wilson-founded gene therapy startup has reeled in another $110 million to take several assets into the clinic while hustling other programs through preclinical studies. The series B, which comes seven months after the series A, was led by Access Biotechnology, the life science investment arm of Len Blavatnik’s Access Industries. OrbiMed, Frazier Healthcare Partners, Versant Ventures and other top-tier investors that powered Passage Bio to the series A round also returned for the latest fundraising. Passage Bio plans to use the money to move two gene therapies into the clinic in the first half of next year, hewing closely to the strategy it sketched out in February. Those programs target rare pediatric disease GM1 gangliosidosis and the neurodegenerative disorder frontotemporal dementia.