Solid Biosciences Announces Acquisition Of Aavantibio And Concurrent $75 Million Private Placement
Acquiring Company
Solid Biosciences
Acquired Company
AavantiBio, Inc.
CharlestownGainesvilleBiotechnologyHealthcareHealth CareGeneticsTherapeuticsBiotechnologyHealth CareGeneticsTherapeuticsDescription
Solid Biosciences Inc. (Nasdaq: SLDB), a life sciences company focused on advancing meaningful therapies for Duchenne muscular dystrophy (Duchenne), and AavantiBio, Inc., a privately-held gene therapy company focused on transforming the lives of patients with Friedreich’s ataxia and rare cardiomyopathies, today announced that the companies have entered into a definitive merger agreement whereby Solid will acquire AavantiBio, including its pipeline assets and net cash. The combined company will focus on advancing a portfolio of neuromuscular and cardiac programs, led by SGT-003, a differentiated gene transfer candidate, for the treatment of Duchenne. Additional pipeline programs include AVB-202, a gene transfer candidate for the treatment of Friedreich’s ataxia, AVB-401 for BAG3 mediated dilated cardiomyopathy, and additional assets for the treatment of undisclosed cardiac diseases. Following approval by Solid stockholders, the combined company will operate as Solid Biosciences, will trade on Nasdaq under the ticker symbol “SLDB” and Bo Cumbo, the current Chief Executive Officer of AavantiBio, will assume the role of President and CEO of Solid Biosciences.
Quick answer
Solid Biosciences is acquiring AavantiBio, Inc. for $75 million, announced September 30, 2022. Solid Biosciences is based in Charlestown, Massachusetts, United States.
- Who acquired AavantiBio, Inc?
- Solid Biosciences agreed to acquire AavantiBio, Inc. on September 30, 2022.
- How much did Solid Biosciences pay for AavantiBio, Inc?
- The reported deal value is $75 million.
- What does Solid Biosciences do?
- Solid Biosciences is a life sciences company focused on advancing a portfolio of gene therapy candidates and neuromuscular and cardiac programs, including SGT-003, for the treatment of Duchenne muscular dystrophy..
- Where are Solid Biosciences and AavantiBio, Inc. based?
- Solid Biosciences is based in Charlestown, Massachusetts, United States. AavantiBio, Inc. is based in Gainesville, Florida, United States.
Source: Fundz verified event record.
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Frequently asked
Who acquired AavantiBio, Inc.?
AavantiBio, Inc. was acquired by Solid Biosciences, based in Charlestown. The deal was reported on September 30, 2022. Solid Biosciences is publicly traded (SLDB) and operates in Biotechnology.
When did Solid Biosciences acquire AavantiBio, Inc.?
Solid Biosciences's acquisition of AavantiBio, Inc. was reported on September 30, 2022. Solid Biosciences Inc. Fundz records the date the transaction was first publicly reported, sourced from filings and company announcements.
What does AavantiBio, Inc. do?
It is privately held, operating in Biotechnology, and is based in Gainesville.
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