Solid Biosciences to Acquire AavantiBio for Gene Therapy Programs

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Solid Biosciences to Acquire AavantiBio for Gene Therapy Programs


  • The combined company will receive ~$215M in cash & investments enough to fund operations into 2025 & key milestones for gene therapy programs. Under a securities purchase agreement, Solid will receive gross proceeds of $75M in PIPE financing led by multiple investors in exchange for 159,574,463 shares of common stock at $0.47/share
  • The transactions are expected to close in Q4’22. The companies focus on advancing portfolios of neuromuscular & cardiac programs, incl. SGT-003 for DMD, AVB-202 for FA, AVB-401 for BAG3 mediated DCM & other undisclosed CVD
  • Solid’s shareholders will own 85% while AavantiBio’s shareholders to hold ~15% of the combined company. The combined company will operate as Solid Biosciences & will be listed on Nasdaq under the ticker symbol “SLDB”

Ref: GlobeNewswire | Image: Solid Biosciences 

Click here to­ read the full press release 


Neha is a Senior Editor at PharmaShots. She is passionate and very enthusiastic about recent updates and developments in the life sciences and pharma industry. She covers Biopharma, MedTech, and Digital health segments along with different reports at PharmaShots. She can be contacted at connect@pharmashots.com.

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