Palo Alto – January 12, 2017 – Cooley advised Avidity Biosciences on its $16 million Series B financing. The round comprises $10 million in new capital and $6 million in convertible debt.

Takeda Pharmaceuticals, through its ventures group, led the round, with new and existing investor participation from Alethea Capital, Alexandria Real Estate Equities, Brace Pharma, EcoR1 Capital, F-Prime Capital Partners, Moore Venture Partners and Tavistock Life Sciences.

Avidity is a privately held biotech company pioneering a new class of precision medicines – Antibody-siRNA Conjugates (ASC) – which combine the strengths of monoclonal antibodies and siRNA-based therapeutics. Avidity is working with partners to discover best-in-class drug candidates against important undrugged therapeutic targets.

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