WAVE Life Sciences has announced (pdf) it has secured $66 million in series B preferred stock financing.
WAVE Life Sciences, based in Boston, is a genetic medicine company focused on developing stereopure nucleic acid therapies for patients impacted by rare diseases.
The round was led by new investor Foresite Capital. Additional new investors included Fidelity Management and Research Company, New Leaf Venture Partners, Redmile Group, Jennison Associates (on behalf of certain clients), Cormorant Asset Management. RA Capital Management, a lead investor in WAVE’s Series A financing, participated significantly in the series B round, joined by other Series A investor Kagoshima Shinsangyo Sosei Investment.
WAVE indicated it expects to use the proceeds from the series B financing round to continue to evolve its chemistry platform and advance a broad pipeline of stereopure nucleic acid therapeutics, including candidates for Huntington’s disease and Duchenne muscular dystrophy.