In the heart of Texas, the AveXis crew gathers for another go at gene therapy with $30M and a powerhouse academic pact to start
The same week RA Session II closed the seed financing for his latest gene therapy startup — back in early March — the Dow dropped a couple of thousand points.
“If you had to ask me, was I worried? Absolutely. I think I wouldn’t be human if I wasn’t,” he said.
But Session had a lot of certainty to balance out all the uncertainty of launching a new biotech during a pandemic. There was the management team comprising some longtime colleagues at Reata and AveXis; there was PBM Capital, AveXis’ first institutional investor, as well as former CEO Sean Nolan, who together provided $30 million to get things started; then there was the foundational partnership with Steven Gray and Berge Minassian at UT Southwestern’s gene therapy program, complete with licenses to 15 AAV9-based assets.
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