Brown Rudnick LLP advised Westlake Village BioPartners on the deal.
Westlake Village BioPartners announced a Series A investment in Capsida Biotherapeutics Inc., a biotechnology company creating a new class of targeted gene therapies for debilitating and life-threatening genetic disorders in both central nervous system (CNS) and non-CNS indications.
Westlake Village BioPartners and Versant Ventures committed $50 million in a Series A investment in Capsida, which is using an adeno-associated virus (AAV) engineering and cargo development platform to develop tissue-targeted gene therapies for multiple types of diseases. Capsida also announced a multiyear strategic collaboration and option agreement with AbbVie that provides $90 million in equity investment capital in addition to potential future option, development, and commercial milestone payments. The collaboration is aimed at developing best-in-class, targeted gene therapies for three programs in serious neurodegenerative diseases.
Capsida is a fully integrated gene therapy company combining its differentiated AAV engineering and screening capabilities with cargo development and state-of-the-art manufacturing to establish a proprietary pipeline of groundbreaking gene therapies. Westlake Village BioPartners is a venture capital firm focused on incubating and building life sciences companies with entrepreneurs who have the potential to bring transformative therapies to patients. AbbVie discovers and delivers innovative medicines across key therapeutic areas, including immunology, oncology, neuroscience, eye care, virology, women’s health, and gastroenterology.
The Brown Rudnick deal team included Adam Schoen (Picture) and Daniel Palmer.
Law Firms: Brown Rudnick LLP;
Clients: Westlake Village BioPartners;