Avidity Biosciences develops Antibody Oligonucleotide Conjugates (AOCs), a proprietary RNA therapeutics platform that combines monoclonal antibody specificity with oligonucleotide precision. The company is advancing clinical programs for three rare muscle diseases—myotonic dystrophy type 1 (DM1), Duchenne muscular dystrophy (DMD) and facioscapulohumeral muscular dystrophy (FSHD)—and is broadening its pipeline into cardiology and immunology through internal discovery and partnerships. AOC 1001 is being evaluated in the MARINA-OLE™ study, and Avidity plans to present long-term efficacy and safety data at an investor and analyst webcast on March 4, 2024. Avidity announced an oversubscribed private placement that sold common stock and pre-funded warrants, which management expects will extend pro forma cash, cash equivalents and investments into late 2026. The company intends to use net proceeds to fund research and development of its clinical-stage candidates, other research programs, working capital and general corporate purposes. Placement agents for the offering included Leerink Partners, BofA Securities, Cantor and Chardan. Avidity Biosciences pioneers an AOC platform that combines monoclonal antibodies for targeted delivery with oligonucleotide therapeutics for potent and selective activity. The platform is designed to enable tissue-selective targeting of skeletal muscle, immune cells, and heart to create a pipeline of targeted oligonucleotide therapeutics. The company’s lead research program addresses myotonic dystrophy type I, a disease with no approved treatment options. In April 2019 Avidity entered a strategic partnership with Eli Lilly to apply AOC technology to immunology and other indications. Avidity completed a $100 million Series C financing that the company says will enable advancement of its growing proprietary portfolio of multiple programs, including its myotonic dystrophy candidate. The company is based in La Jolla, Calif., and is privately held. Avidity Biosciences is a La Jolla–based developer of biopharmaceuticals that uses monoclonal antibodies and oligonucleotide-based therapeutics. Its core approach pairs monoclonal antibodies with oligonucleotide‑based therapeutics. On April 22, 2019 the company announced a collaboration and financing deal with Lilly. Under the agreement Avidity received a $20M upfront payment and a $15M investment, totaling $35M. The funding from Lilly provides a near‑term capital infusion; the article did not disclose further public details of the collaboration or additional terms. Avidity Biosciences is developing Antibody Oligonucleotide Conjugates (AOC™) that combine monoclonal antibody tissue selectivity with oligonucleotide precision to improve delivery and target genetic drivers of disease. The company is advancing a pipeline focused on rare muscle disorders and other serious diseases, including programs aimed at Duchenne muscular dystrophy (DMD). It received an equity investment from CureDuchenne to support pre-clinical development of potential DMD therapies. Avidity has previously raised $30M in venture financing from a top-tier group of healthcare investors. The company is based in La Jolla, CA. Its leadership team includes Troy Wilson (President & CEO), Kent Hawryluk (CBO), Arthur A. Levin (EVP, R&D), Andrew J. Geall (VP, Formulations & Chemistry), John Wallen (VP, IP), and Vanessa L. Jacoby (VP, Finance). Avidity Biosciences is a privately held biotech pioneering a new class of precision medicines called Antibody-siRNA Conjugates (ASC). ASCs combine the strengths of monoclonal antibodies and siRNA-based therapeutics. The company works with partners to discover best-in-class drug candidates against important undrugged therapeutic targets. Avidity raised $16 million in a Series B financing that included $10 million in new capital and $6 million in convertible debt, bolstering its development efforts. Takeda Pharmaceuticals’ ventures group led the round, with participation from a mix of new and existing investors. Avidity is based in Palo Alto, CA.

Total raised

$531M

Funding rounds

6

Latest round

Equity

Latest activity

Feb 2024