Avidity Biosciences Finds $16M

La Jolla-based Avidity Biosciences, a biopharmaceuticals developer focused on monoclonal antibody and siRNA-based therapeutics, said today that it has raised $16M in a Series B funding round. The round included $10M in new capital, combined with conversion of $6M in convertible debt. The funding was led by Takeda Pharmaceuticals, and also included Alethea Capital, Alexandria Real Estate Equities, Brace Pharma, EcoR1 Capital, F-Prime Capital, Moore Venture Partners and Tavistock Life Sciences. Avidity Biosciences is led by Troy Wilson. The company's technology is based on research originally conducted at Caltech. More information »