AAVantgarde Bio secures $141 million in Series B financing to advance its clinical programs targeting Stargardt disease and Usher 1B syndrome.

Information on the Target

AAVantgarde Bio (AAVantgarde) is a clinical-stage biotechnology company dedicated to developing innovative therapies for inherited retinal diseases (IRDs). Recently, it successfully completed a $141 million (€122 million) Series B financing round, which aims to advance its clinical programs targeting Stargardt disease and Usher 1B syndrome. The funds will facilitate the completion of significant clinical trials, including the CELESTE study for Stargardt disease and the LUCE trial for Usher 1B.

Stargardt disease is the most common macular dystrophy affecting the youth, and AAVantgarde’s program AAVB-039 seeks to address the underlying genetic mutation in the ABCA4 gene through gene augmentation therapy. Similarly, the company’s AAVB-081 program aims to offer solutions for retinitis pigmentosa secondary to Usher syndrome 1B, which causes both vision and hearing loss due to mutations in the MYO7A gene.

Industry Overview in the Target’s Specific Country

The biotechnology sector in Italy has witnessed significant growth, particularly in the field of rare diseases, thanks to increasing investment from both public and private sectors. The growing recognition of the importance