{"id":12068,"date":"2012-11-20T12:24:59","date_gmt":"2012-11-20T17:24:59","guid":{"rendered":"http:\/\/sciencebusiness.technewslit.com\/?p=12068"},"modified":"2012-11-20T12:24:59","modified_gmt":"2012-11-20T17:24:59","slug":"gene-therapy-biotech-secures-37-5-million-in-venture-funds","status":"publish","type":"post","link":"https:\/\/technewslit.com\/sciencebusiness\/?p=12068","title":{"rendered":"Gene Therapy Biotech Secures $37.5 Million in Venture Funds"},"content":{"rendered":"
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(Wikimedia Commons)<\/figcaption><\/figure>\n

Applied Genetic Technologies Corp.<\/a>, a biotechnology company in Gainesville, Florida, gained $37.5 million in series B funds, the second round of financing after initial start-up. Alta Partners and S.R. One Ltd led the financing, with new investor Osage University Partners joining existing investors InterWest, Intersouth Partners, and MedImmune Ventures in the round.<\/p>\n

Applied Genetic Technologies develops gene therapies<\/a> using a harmless, engineered adeno-associated virus to deliver replacements for malfunctiong genes causing diseases. The company’s process removes viral gene from the adeno-associated virus to deliver the therapeutic gene. The replacement gene can act as a regulator of protein expression or promote expression of beneficial proteins in human tissue.<\/p>\n

The proceeds of the round are expected to support Applied Genetic Technologies’ phase 2 clinical trial<\/a> of a gene therapy to treat alpha-1 antitrypsin deficiency<\/a>, a condition where the body does not make enough of a protein that protects the lungs and liver from damage. The condition can lead to emphysema and liver disease. Current treatments that involve infusions of alpha-1 antitrypsin protein purified from plasma, says the company, are expensive and limited by the low number of human plasma donors.<\/p>\n

The financing is also expected to fund gene therapies for two rare retinal diseases, achromatopsia and x-linked retinoschisis. Both of these programs are in preclinical stages.<\/p>\n

Achromatopsia<\/a> is an inherited condition affecting about 1 in 33,000 Americans. People with achromatopsia experience color blindness, visual acuity loss, extreme light sensitivity, and involuntary eye movements.<\/p>\n

X-linked retinoschisis<\/a> is a juvenile genetic eye disorder that affects the retina mainly of boys, but can continue into adulthood. Damage to nerve tissue in the retina impairs visual acuity.<\/p>\n

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