The financing is taking place concurrently with the company’s acquisition of AavantiBio

Davis Polk advised the placement agent in connection with a private placement of $75 million of common stock of Solid Biosciences, Inc. The financing is taking place concurrently with the acquisition of AavantiBio, Inc. by Solid.

Solid intends to use the proceeds from the offering to fund the combined company’s operations, including development of pipeline product candidates, working capital and other general corporate purposes.

Headquartered in Charlestown, Massachusetts, Solid is a life sciences company focused on advancing transformative treatments to improve the lives of patients living with Duchenne. Disease-focused and founded by a family directly impacted by Duchenne, Solid Bioscience has focused its efforts on SGT-001 and SGT-003, gene transfer candidates under investigation for their ability to drive functional dystrophin protein expression in patients’ muscles and improve the course of the disease.

Headquartered in Cambridge, Massachusetts, AavantiBio, Inc. is a privately held gene therapy company focused on transforming the lives of patients with Friedreich’s ataxia and rare cardiomyopathies.

The Davis Polk capital markets team included partners Deanna L. Kirkpatrick and Yasin Keshvargar and associates Arisa Akashi Sin and Kamil Turkmani. Partner David R. Bauer and associate Alison T. Chin provided intellectual property advice. All members of the Davis Polk team are based in the New York office.