What is Passage Bio?
Founded in 2017 and headquartered in Philadelphia, PA, Passage Bio is dedicated to developing a portfolio of six AAV-delivered therapeutics aimed at treating rare monogenic central nervous system diseases. The company's focus on life-transforming treatments for debilitating conditions positions it within the rapidly advancing field of genetic medicine. Its strategic approach involves leveraging advanced delivery mechanisms to target diseases with significant unmet medical needs.
How much funding has Passage Bio raised?
Passage Bio has raised a total of $441.5M across 3 funding rounds:
Series A
$115.5M
Series B
$110M
Stock Offering
$216M
Series A (2019): $115.5M with participation from Versant Ventures, Lilly Asia Ventures, Frazier Healthcare Partners, Vivo Capital, New Leaf Venture Partners, and OrbiMed
Series B (2019): $110M led by OrbiMed, Highline Capital Management, Sphera Funds Management, Versant Ventures, Access Biotechnology, Vivo Capital, Logos Capital, Boxer Capital, Lily Asia Ventures, Frazier Healthcare Partners, and New Leaf Venture Partners
Stock Issuance/Offering (2020): $216M, investors not publicly disclosed
Key Investors in Passage Bio
Versant Ventures
Versant Ventures is a venture capital firm specializing in building and funding innovative biotechnology companies globally. With substantial assets under management, they have a strong history of successful IPOs and M&A transactions in the biotech sector.
OrbiMed
OrbiMed is a specialized investment firm with deep expertise in the healthcare sector, managing capital across biopharmaceuticals, medical devices, and digital health. They support companies at various stages of development with strategic insights and operational optimization.
Frazier Healthcare Partners
Frazier Healthcare Partners is a prominent investment firm focused on the healthcare industry, with a particular emphasis on biopharmaceutical companies. They provide capital and strategic guidance to companies aiming to develop and commercialize novel therapeutics.
What's next for Passage Bio?
The recent major strategic investment signals a pivotal growth phase for Passage Bio, likely enabling the acceleration of its clinical development pipeline and the expansion of its research and development capabilities. This enterprise-level funding suggests confidence from investors in the company's therapeutic candidates and its potential to address critical patient needs in rare CNS disorders. Passage Bio is poised to advance its mission of bringing innovative genetic therapies to market, potentially marking a new era in the treatment of these challenging conditions.
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