LogicBio Therapeutics announces Dr Daniel O’Connell to its Board along with raisng $45m Series B funding led by Arix Bioscience

– USA, MA – LogicBio Therapeutics has got off a $45 million series B funding round as it eyes the cash for disease-modifying gene therapies in rare childhood diseases.

London-based investment firm Arix Bioscience led the oversubscribed round in the semi-stealth biotech, with new investors OrbiMed, Edmond De Rothschild Investment Partners, Pontifax, and SBI, along with previous investors OrbiMed Israel Partners, also stumping up cash.

Arix Bioscience’s investment manager, Daniel O’Connell, M.D., Ph.D, will join Cambridge, Massachusetts-based LogicBio’s board as part of the raise. This brings its total raised to $50 million, much of which will be put toward finishing off preclinical work and moving them into human tests.

The biotech sets itself up as a “breakthrough gene therapy company” targeting “lifelong cures” for serious, early-onset rare diseases by combining the best of gene therapy and gene editing in a one-time treatment.

It was founded in 2014 with platform technologies discovered by Adi Barzel, Tel Aviv University, Dr Leszek Lisowski, Children’s Medical Research Institute, Australia, and Professor Mark Kay at Stanford University School of Medicine.

The first platform, GeneRide, is a technology that uses homologous recombination that is designed to allow site-specific transfer of therapeutic genetic material without the use of promoters or nucleases. The company says it also has access to a library of synthetic, non-pathogenic, recombinant adeno-associated viral (rAAV) vectors developed at Stanford that allows for better predictability of vector performance in clinical trials.

Joe Anderson, CEO of Arix Bioscience, said: “Early intervention for rare genetic disorders in children is important and LogicBio is uniquely positioned at the forefront of this research area with its proprietary genetic therapy technology to deliver a durable cure for young patients with life-threatening genetic diseases and otherwise limited options. LogicBio has huge potential and, alongside its excellent team and investors, we look forward to supporting the company to achieve continued success in this area.”

About LogicBio Therapeutics

A preclinical-stage gene-therapy company with a mission to develop cures for life-threatening diseases, LogicBio combines the best of gene therapy and genome editing. Founded by pioneers in gene therapy from leading academic institutions including Stanford University, Tel Aviv University, and Children’s Medical Research Institute in Australia, LogicBio’s core platform includes synthetic gene-therapy vectors derived from naturally occurring human adeno-associated viruses and the GeneRide technology. LogicBio designed its approach to harness the natural power of homologous recombination enabling precise, site-specific transfer of the genetic material without the use of promoters or nucleases. The goal: repairing the faulty genetic sequence causing the disorder to deliver a cure. LogicBio is advancing programs targeting rare, life-threatening paediatric genetic diseases of the liver, where there are few, if any, treatment options. A number of the company’s discoveries have been featured in leading science publications and conferences. A private company, LogicBio is based in Cambridge, Massachusetts, with additional science teams working in Tel Aviv.

For more information : http://www.logicbio.com

About Arix Bioscience plc

Arix Bioscience plc is a global healthcare and life science company supporting medical innovation. Headquartered in London and with an office in New York, Arix Bioscience sources, finances and builds world class healthcare and life science businesses addressing medical innovation at all stages of development. Operations are supported by privileged access to breakthrough academic science and strategic relationships with leading research accelerators and global pharmaceutical companies.

Arix Bioscience plc is listed on the Main Market of the London Stock Exchange.

For more information : http://www.arixbioscience.com

- DisclaimerNews, data, and statements included in this release are intended exclusively for general information purposes. Talent4Boards does not guarantee that news is accurate or about the correct person and accepts neither liability for the consequences of the reader’s reliance, nor responsibility for the accuracy of the information. Nothing in this release should be considered for decisions about referred securities. Products and brand names may be trademarks or registered trademarks of their respective owners.