Gene therapy BioTech company Ascend Gene & Cell Therapies (Ascend) has announced the conclusion of a Series A fundraise of around £132 million.

UK-based Ascend, which works on improving manufacturing processes to boost the quality, potency, and safety of gene therapy technologies, said the funding will enable it to acquire further Chemistry, Manufacturing and Control (CMC) capabilities – defined as ‘crucial activities’ when developing new pharmaceutical products – which will provide an “operational runway” to build the business.

Ascend said it is chiefly focused on developing Adeno-associated virus (AAV) vectors – which are classified as small viruses that infect humans and some other primate species – and currently has a team of around 120 cross-functional experts who have already developed processes for a number of AAV products currently under clinical development.

Describing the company as a service provider for biotechnology companies, Ascend chief executive Mike Stella said the company recognises that the quality and potency of products is “just as important” as yield.

"We believe that creating a therapy that changes lives means improving on what's come before,” Stella said. “We will continue to refine and flex our model, staying adaptable to meet the needs of the market."

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