Applied Genetic Technologies, a startup focused on gene therapy for retinal diseases, has raised $37.5 million in new financing from Intersouth Partners in Durham and several other investors.
Intersouth had invested previously in Applied Genetic, which is based in Gainesville, Fla.
Leaders of the round were Alta Partners and S.R. One.
A new investor, Osage University Partners, also participated as did MedImmune Ventures.
The funding is to support continued clinical trial development of one treatment and development of two other potential treatments.
“We are strong believers in the business model of developing treatments for genetic disorders,” said Ed Hurwitz, General Partner of Alta Partners. “Based on encouraging clinical results from AGTC and others, we concluded that a large set of genetically defined diseases could be cured using AGTC’s proprietary vectors and manufacturing technologies. The Series B financing is designed to move several of AGTC’s programs through proof of concept as well as to allow the company to leverage its manufacturing and development infrastructure with partners to accelerate a broad portfolio of curative products.”
