http://medcitynews.com/2016/02/bamboo-therapeutics/
By MEGHANA KESHAVAN
Feb 11, 2016
North Carolina gene therapy startup Bamboo Therapeutics has raised a stunning $49.5 million, according to an SEC filing. The startup is focused on advancing the work of Dr. Richard Jude Samulski, director of the gene therapy center at the University of North Carolina, into the clinic to treat rare neurologic diseases like Duchenne’s muscular dystrophy.
Bamboo says that Samulski was the first person to use adeno-associated viruses to replace defective genes with healthy ones; as a result, the company holds more than 20 patents in using AAV for therapeutic applications.
This looks to be a Series A, as it’s Bamboo’s only fundraise on the regulatory books. Six investors participated in the round. We’re waiting to hear back from CEO Sheila Mikhail to confirm, and learn more about the company’s use for this funding round. Bamboo did raise an undisclosed amount of funding from CureDuchenne Ventures on January 10.
The startup’s developing gene therapies for rare neurologic diseases, which include Giant axonal neuropathy (GAN), Canavan disease, Friedreich’s ataxia as well as Duchenne muscular dystrophy. Bamboo’s most advanced program is its therapeutic for GAN, which is currently in Phase 1/2 trials. CBS News ran a piece on Bamboo’s approach to GAN in October.
Just last month, Bamboo acquired a UNC’s viral vector core gene therapy manufacturing facility, Friedrich’s Ataxia News reports.
“We believe that having a leading manufacturing facility fully integrated into our business provides flexibility and a competitive advantage,” Samulski said in a release. “We anticipate rapidly moving our programs forward, including our DMD program, which is expected to enter the clinic in early 2017.”
By MEGHANA KESHAVAN
Feb 11, 2016
North Carolina gene therapy startup Bamboo Therapeutics has raised a stunning $49.5 million, according to an SEC filing. The startup is focused on advancing the work of Dr. Richard Jude Samulski, director of the gene therapy center at the University of North Carolina, into the clinic to treat rare neurologic diseases like Duchenne’s muscular dystrophy.
Bamboo says that Samulski was the first person to use adeno-associated viruses to replace defective genes with healthy ones; as a result, the company holds more than 20 patents in using AAV for therapeutic applications.
This looks to be a Series A, as it’s Bamboo’s only fundraise on the regulatory books. Six investors participated in the round. We’re waiting to hear back from CEO Sheila Mikhail to confirm, and learn more about the company’s use for this funding round. Bamboo did raise an undisclosed amount of funding from CureDuchenne Ventures on January 10.
The startup’s developing gene therapies for rare neurologic diseases, which include Giant axonal neuropathy (GAN), Canavan disease, Friedreich’s ataxia as well as Duchenne muscular dystrophy. Bamboo’s most advanced program is its therapeutic for GAN, which is currently in Phase 1/2 trials. CBS News ran a piece on Bamboo’s approach to GAN in October.
Just last month, Bamboo acquired a UNC’s viral vector core gene therapy manufacturing facility, Friedrich’s Ataxia News reports.
“We believe that having a leading manufacturing facility fully integrated into our business provides flexibility and a competitive advantage,” Samulski said in a release. “We anticipate rapidly moving our programs forward, including our DMD program, which is expected to enter the clinic in early 2017.”