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§ Public · San Diego, CA, USA
Biopharmaceutical company develops Antibody Oligonucleotide Conjugates (AOCs), RNA medicines for rare genetic muscle diseases.
Avidity Biosciences is a clinical-stage biopharmaceutical company based in San Diego, California, that develops proprietary Antibody Oligonucleotide Conjugates to deliver precision RNA therapeutics into muscle tissue for the treatment of rare genetic diseases. Operating as a publicly traded entity on the NASDAQ exchange, the enterprise maintains a market capitalization exceeding $3 billion and employs a workforce of approximately 382 people. Under the leadership of CEO Sarah Boyce, the firm has established strategic research and development partnerships with major pharmaceutical corporations, including Eli Lilly and Bristol Myers Squibb. The expanded collaboration with Bristol Myers Squibb focuses on cardiovascular research and includes a $100 million upfront payment with the potential for up to $2.2 billion in future milestone distributions. Avidity Biosciences was founded in 2012 by Troy Wilson, Kent Hawryluk, Arthur Levin, and Mark Davis.
Avidity Biosciences has raised $531.0M across 4 funding rounds.
Avidity Biosciences has raised $531.0M in total across 4 funding rounds.
Avidity Biosciences has raised $531.0M in total across 4 funding rounds.
Avidity Biosciences's investors include Adage Capital Management, Boxer Capital, Casdin Capital, Farallon Capital Management, Janus Henderson Investors, RA Capital Management, RTW Investments, Wellington Management, Roderick Wong, Alethea Capital, Alexandria Venture Investments, Brace Pharma Capital.
Avidity Biosciences is a biopharmaceutical company developing Antibody Oligonucleotide Conjugates (AOCs™), a novel class of RNA therapeutics that combine monoclonal antibodies' tissue specificity with oligonucleotides' precision to target genetic drivers of diseases, particularly in hard-to-reach tissues like muscle.[1][2][3] It serves patients with rare neuromuscular disorders such as myotonic dystrophy type 1 (DM1), facioscapulohumeral muscular dystrophy (FSHD), and Duchenne muscular dystrophy (DMD), addressing unmet needs by enabling targeted RNA delivery beyond the liver—where traditional therapies fail.[1][4][5] The company solves the core problem of ineffective RNA therapeutic delivery to non-liver tissues, with three clinical programs advancing (e.g., delpacibart etedesiran or del-desiran in Phase 3 for DM1) and expansion into cardiology and immunology, demonstrating strong growth through partnerships and innovations like improved siRNA durability.[3][4][7]
Avidity Biosciences emerged as a pioneer in RNA delivery innovation, founded to tackle limitations in oligonucleotide therapies by engineering the proprietary AOC platform for targeted delivery to muscle and other tissues.[1][3][6] While specific founder details are not detailed in available sources, the company built its foundation on in-house expertise in antibody engineering, oligonucleotide modulation, and drug delivery, achieving the first-ever successful systemic RNA delivery to muscle in clinical trials.[3][6] Early traction came from unprecedented data across programs for DM1, FSHD, and DMD, leading to FDA designations like Orphan, Fast Track, and Breakthrough Therapy for del-desiran, and pivotal expansion via partnerships in cardiology and immunology.[1][5][7]
Avidity rides the RNA therapeutics revolution, shifting from liver-centric delivery to tissue-agnostic targeting amid rising demand for genetic disease treatments in underserved areas like neuromuscular disorders.[1][2][3] Timing aligns with maturing mAb and oligo technologies, enabling first-in-class therapies for DM1, FSHD, and DMD—diseases lacking disease-modifying options—and fueling market forces like orphan drug incentives and partnerships (e.g., Novartis acquisition interest).[5][7] It influences the ecosystem by validating muscle RNA delivery, inspiring platform expansions, and accelerating pipelines through data-driven innovations that lower off-target risks and improve patient access.[6][8]
Avidity's momentum positions it for transformative milestones, including Phase 3 HARBOR data readouts for del-desiran in DM1 and potential approvals in FSHD/DMD, with pipeline growth in cardiology and immunology via next-gen AOCs.[4][5] Trends like enhanced RNA durability and broader tissue targeting will shape its path, amplified by strategic deals (e.g., Novartis eyeing its late-stage assets).[3][7] Its influence may evolve through acquisitions or partnerships, redefining RNA therapeutics and delivering on the vision to profoundly impact rare disease patients—solidifying its role as a delivery pioneer.[1][2]
Avidity Biosciences has raised $531.0M across 4 funding rounds. Most recently, it raised $400.0M Other Equity in February 2024.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Feb 29, 2024 | $400M Venture Round | — | Adage Capital Management, Boxer Capital, Casdin Capital, Farallon Capital Management, Janus Henderson Investors, RA Capital Management, RTW Investments, Wellington Management | Announced |
| Nov 13, 2019 | $100M Series C | Roderick Wong | Alethea Capital, Alexandria Venture Investments, Boxer Capital, Brace Pharma Capital, Cormorant Asset Management, Cureduchenne Ventures, EcoR1 Capital, ELI Lilly And Company, Logos Capital, Partner Fund Management, Perceptive Advisors, ST Pharm, Takeda Ventures | Announced |
| Apr 22, 2019 | $15M Venture Round | ELI Lilly And Company | — | Announced |
| Jan 1, 2017 | $16M Series B | Michael Martin | F Prime Capital, Tony HSU, Alexandria Venture Investments, Todd Brady, EcoR1 Capital, F Prime Capital, Moore Venture Partners, Tavistock Group | Announced |