SOURCE: Cooley LLP

Cooley

January 13, 2017 19:50 ET

Avidity - $16 Million Series B

PALO ALTO, CA--(Marketwired - January 13, 2017) - Cooley advised Avidity Biosciences on its $16 million Series B financing. The round comprises $10 million in new capital and $6 million in convertible debt.

Takeda Pharmaceuticals, through its ventures group led the round, with new and existing investor participation from Alethea Capital, Alexandria Real Estate Equities, Brace Pharma, EcoR1 Capital, F-Prime Capital Partners, Moore Venture Partners and Tavistock Life Sciences.

Avidity is a privately held biotech company pioneering a new class of precision medicines -- Antibody-siRNA Conjugates (ASC) -- which combine the strengths of monoclonal antibodies and siRNA-based therapeutics. Avidity is working with partners to discover best-in-class drug candidates against important undrugged therapeutic targets.

The Cooley team advising Avidity included Josh Seidenfeld, Lesse Castleberry, Laura McDaniels and Kimberly Nguyen.

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