Tim Funnell, Ascend executive director

As­cend launch­es with $130M+ as it looks to build in the AAV space

As­cend Gene & Cell Ther­a­pies, a CD­MO for AAV-based ther­a­pies, has emerged from stealth with $130 mil­lion in fund­ing and plans to ac­quire ex­pe­ri­enced teams.

The com­pa­ny, found­ed by Mono­graph Cap­i­tal, launched Tues­day with $117.5 mil­lion in a Se­ries A round, plus an ad­di­tion­al $15 mil­lion in seed fund­ing.

Tim Fun­nell, an ex­ec­u­tive di­rec­tor at As­cend and a part­ner at Mono­graph, told End­points News in an email that com­pa­nies have been rais­ing mon­ey to build out their in­ter­nal man­u­fac­tur­ing for AAVs since most tra­di­tion­al CD­MOs did not have those ca­pa­bil­i­ties. But that’s chang­ing, and As­cend is try­ing to hire much of the tal­ent that pre­vi­ous­ly went in­to those com­pa­nies, not to the CD­MOs.

Endpoints News

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