After bagging $200M-plus in 2019, Passage Bio guns for $125M IPO

Despite pulling off two megarounds in 2019, Passage Bio is returning to the funding well—but this time, it’s going public. The company filed for a $125 million IPO, which will bankroll the development of its three lead gene therapy programs in dementia, Krabbe disease and rare childhood disease GM1 gangliosidosis.  Those programs were among five that Passage picked up in its partnership with the University of Pennsylvania’s Gene Therapy Program in February 2019. At the same time, the Philadelphia-based biotech reeled in a $115.5 million series A round to bankroll the development of those programs, all of which target rare, monogenic central nervous system (CNS) diseases.