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AGTC raises $37.5M in venture funding to support development of two orphan ophthalmic products

Applied Genetic Technologies Corporation, Inc., (AGTC), a private biotechnology company developing therapies for rare retinal disorders, has announced the closing of a Series B $37.5M fundraising. The company is developing treatments for Achromatopsia (ACHM) and X-Linked Rentinoschisis (XLRS), two key orphan indications. The fund raising was led by Alta Partners and SR One Limited and will provide the company with sufficient funds to complete Phase II clinical studies.