{"id":28053,"date":"2015-11-11T17:21:54","date_gmt":"2015-11-11T22:21:54","guid":{"rendered":"http:\/\/sciencebusiness.technewslit.com\/?p=28053"},"modified":"2016-06-11T12:21:12","modified_gmt":"2016-06-11T16:21:12","slug":"gene-therapy-company-raises-70-million-in-ipo","status":"publish","type":"post","link":"https:\/\/technewslit.com\/sciencebusiness\/?p=28053","title":{"rendered":"Gene Therapy Company Raises $70 Million in IPO"},"content":{"rendered":"
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11 November 2015. Voyager Therapeutics, a company less that two years old developing gene therapies for central nervous system disorders is raising $70 million in its initial public stock offering. The Cambridge, Massachusetts enterprise, trading on the Nasdaq exchange (symbol: VYGR<\/a>), offered 5 million shares<\/a> yesterday at $14.00. Shares closed today at $17.75, a gain of 27 percent, while the Nasdaq overall lost 0.32 percent.<\/p>\n

Voyager\u2019s\u00a0<\/span>technology<\/a>\u00a0<\/span>harnesses adeno-associated viruses to deliver healthy genetic material for expressing proteins missing from the mutated or damaged genes causing inherited diseases.\u00a0<\/span>Adeno-associated viruses<\/a>\u00a0<\/span>are benign, naturally occurring microbes that\u00a0<\/span><\/span>can infect cells, but do not integrate with the cell\u2019s genome or cause disease, and generate a mild immune response.<\/p>\n

The company is commercializing research by its founders whose work covers harnessing of viruses to deliver genetic therapies, and treatments using RNA interference — protein signals derived from one’s genetic code — to inhibit the expression of certain genes. One of the founders is Guangping Gao<\/a>, professor of microbiology at University of Massachusetts Medical School, whose work \u00a0involves the discovery, development, and use of adeno-associated viruses for gene therapies.<\/p>\n

Voyager is\u00a0<\/span>developing treatments<\/a>\u00a0<\/span>for diseases of the central nervous system including Parkinson\u2019s disease, amyotrophic lateral sclerosis (ALS),\u00a0<\/span>Friedreich\u2019s ataxia<\/a>, a rare inherited disease causing damage to the nervous system and movement problems, and\u00a0<\/span>Huntington\u2019s disease<\/a>, an inherited brain disorder that results in progressive loss of both mental faculties and physical control.<\/p>\n

In February 2015, Genzyme, the biotechnology division of Sanofi, agreed to license from Voyager<\/a> gene therapies for Parkinson\u2019s disease, Friedreich\u2019s ataxia and Huntington\u2019s disease, as well as other unspecified disorders of the central nervous system. The deal could bring Voyager as much as $845 million.<\/p>\n

As reported by Science & Enterprise, Voyager was founded in February 2014, and gained $45 million<\/a> in its first venture financing round. In April 2015, the company raised another $60 million<\/a> in venture funding.<\/p>\n

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