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Technology Seattle gene therapy biotech startup Immusoft raises $4.5M

22:16  25 september  2020
22:16  25 september  2020 Source:   geekwire.com

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Seattle-based biotech startup Immusoft raised another $4.5 million and landed a $467,000 NIH grant to help further development of its drugs that treat genetic diseases.

a man wearing a suit and tie smiling at the camera: Seattle gene therapy biotech startup Immusoft raises $4.5M © Provided by Geekwire Seattle gene therapy biotech startup Immusoft raises $4.5M

Founded in 2009, Immusoft develops immune cell technology that uses blood cells from a patient to create therapeutic proteins targeted to treat diseases. Its lead candidate, ISP-001, treats Mucopolysaccharidosis type I, or MPS I, and has both orphan drug and rare pediatric disease designations from the FDA.

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Investors in the new round include previous backers Ikarian Capital, Mesa Verde Venture Partners, and Breakout Ventures.

The 12-person company last year raised a $20 million Series B round.

Sean Ainsworth, a veteran biotech executive, leads the company as CEO. In 2018 he replaced founder Matthew Scholz. Ainsworth previously founded gene therapy company RetroSense Therapeutics, which sold to Allergan in 2016 in a deal worth up to $555 million.

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