NEW YORK--(BUSINESS WIRE)--Agilis Biotherapeutics, LLC, a synthetic biology-based company focused on rare genetic diseases, announced today that the company has completed an $8 million dollar financing. Proceeds from the financing will be used for Agilis initial focus on developing a treatment for Friedreichs ataxia (FRDA) in collaboration with Intrexon Corporation (NYSE: XON), a leader in the field of synthetic biology. Agilis and Intrexon recently executed an Exclusive Channel Collaboration (ECC) through which Agilis intends to develop and commercialize novel DNA-based therapeutics for the treatment of FRDA. Under the ECC Agilis also has an option to expand its relationship with Intrexon by adding another rare genetic disease to the collaboration. About Friedreichs Ataxia Friedreichs ataxia is a rare genetic neurodegenerative disease that results in a physically debilitating, life shortening condition. FRDA is caused by defect in a gene (the FXN gene) that results in limited production of an important protein called frataxin which functions in the mitochondria (the powerhouses ) of the cell. FRDA is the most common hereditary ataxia with an estimated 5,000 to 10,000 patients in the US. Progression of this disease causes nervous system damage, problems with movement, and finally early death resulting from cardiac malfunction. There are … Continue reading
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