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Retinal gene therapy company, Applied Genetic Technologies Corporation (NASDAQ:AGTC), raises $50M in IPO

Applied Genetic Technologies Corporation, Inc., (AGTC), a Florida-based rare ophthalmic disease company has raised just over $50 million in its IPO debut on the US NASDAQ (April 3rd), selling 4.2 million shares at $12 per share valuing the company at $160.7 million. The company plans to initiate a Phase I/II trial of its lead compound in X-linked retinoschisis (XLRS) later in FY2014. The company has stated that it has five gene therapy programs in development ranging from pre-clinical through to phase 2, including treatments for Achromatopsia (ACHM), X-Linked Retinoschisis (XLRS) and X-Linked Retinitis Pigmentosa.