Cell therapy company founded on the work of a Princess Margaret doctor now worth US $651 million

31/07/2018

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AVROBIO President and CEO Geoff MacKay (centre) with a team of AVROBIO’s employees, investors, board members and partners at the NASDAQ stock exchange. (Photo: Courtesy of NASDAQ)

AVROBIO, a company founded on the work of a Princess Margaret Cancer Centre doctor, recently raised more than US $100 million in an initial public offering on the NASDAQ stock exchange and less than one month later has a market value of more than US $651 million.

The company, which was founded based on the work of Dr. Christopher Paige, Senior Scientist at the Princess Margaret Cancer Centre, and Dr. Jeffrey Medin (formerly from the Ontario Institute for Cancer Research now at the Medical College of Wisconsin), leverages cell and gene therapy platforms for cancer and rare diseases.

Specifically, AVROBIO is a clinical stage company focused on developing potentially curative lentiviral-based gene therapies to treat rare diseases in a single dose.

Read the full story on the UHN website.