Avalanche Biotechnologies

Avalanche Biotechnologies ($AAVL)
Based: Menlo Park, CA
IPO price: $17
Close Sept. 30: $34.19
Change: Up 101%
Raised: $102 million

Scoop: Taking advantage of industry-wide renewed optimism for gene therapies, Avalanche was able to bank $102 million in an upsized offering that priced at the top of an upwardly revised range. That haul came just months after the biotech closed a $55 million venture round, and investor confidence in its stable of potential one-time treatments for ocular diseases has helped more than double the company's share price since July. Avalanche's ticker symbol is a reference to its platform technology, which uses a harmless adeno-associated virus (AAV) to deliver corrective genes in patients with inherent eye disorders. Leading Avalanche's pipeline is AVA-101, which is in the midst of a Phase IIa trial for wet age-related macular degeneration and in preclinical development for diabetic macular edema and retinal vein occlusion. Beyond its proprietary candidates, Avalanche is working with the ocular luminaries at Regeneron ($REGN), signing a deal in May to collaborate on up to 8 new therapies that could bring in $640 million in total.

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Gene therapy biotech Avalanche banks $102M in an up-sized IPO

Avalanche Biotechnologies

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