Affinia Therapeutics Valuation, Funding & Investors

Affinia Therapeutics is valued at $157M as of October 2025.

Last Affinia Therapeutics valuation

$157M

Series C · Oct 2025

Last Affinia Therapeutics funding round

$40M

Series C · Oct 2025

Cumulative funding Affinia Therapeutics raised

$210M

across 3 funding rounds

Key investors in Affinia Therapeutics

  • New Enterprise Associates
  • F-Prime
  • Alexandria Venture Investments
  • Atlas Venture
  • GV
  • Perceptive Advisors

Affinia Therapeutics Overview

About Affinia Therapeutics

Affinia Therapeutics is a Cambridge, Massachusetts-headquartered biotechnology company that engineers adeno-associated virus vectors for gene therapies targeting central nervous system and muscle disorders. Its platform uses synthetic biology and high-throughput screening to create vectors with enhanced tissue specificity and transduction efficiency. The lead program, AT-001, addresses BAG3 cardiomyopathy, while preclinical efforts focus on Friedreich's ataxia and myotonic dystrophy. Founded in 2020 as a spinout from Spark Therapeutics, Affinia has raised over $110 million in funding from investors including Forbion and Perceptive Advisors.


Founded

2019

HQ

United StatesBoston, MA

Status

Privately held

Customer focus

B2C

Revenue model

Product sales

Valuation

$157M (Oct 2025)

Affinia Therapeutics Valuation

Affinia Therapeutics is currently valued at $157M, based on its Series C in October 2025.

The $40M round was led by New Enterprise Associates, with participation from Avidity Partners, GV, Alexandria Venture Investments, F-Prime, Atlas Venture and 3 other investors.

Affinia Therapeutics' valuation has moved from $366M at its Series B in May 2021 to $157M in October 2025, across 2 priced rounds.

Affinia Therapeutics valuation by funding round

Affinia Therapeutics valuation by funding round
DateStageValuation
Oct 2025Series C$157M
May 2021Series B$366M

Affinia Therapeutics Funding History

Affinia Therapeutics has raised a total of $210M across 3 funding rounds.

Affinia Therapeutics' first fundraising round was a $60M Series A in March 2020. The most recent completed round was a $40M Series C in October 2025.

Affinia Therapeutics funding rounds

Affinia Therapeutics funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Oct 2025Series CNew Enterprise Associates (lead); Avidity Partners; GV; Alexandria Venture Investments; F-Prime; Atlas Venture; Eli Lilly; Mass General Brigham Ventures; Perceptive Advisors$40M$157MAffinia Therapeutics is a biotechnology company developing gene therapies for rare and non-rare diseases, engineering novel AAV vectors and regulatory elements to improve tissue tropism, cell specificity, safety, and yields. On October 7, 2025, the company closed a $40 million Series C funding round led by New Enterprise Associates, with participation from new investor Eli Lilly and Company and returning investors including Alexandria Venture Investments, Atlas Venture, Avidity Partners, F-Prime Capital, GV, Mass General Brigham Ventures, and Perceptive Advisors. The round involved issuing Convertible Preferred Stock, bringing total funding raised to approximately $210-219 million across multiple rounds. This follows a prior Series B round in May 2021, where the company raised $110 million at a post-money valuation of $365.7 million and a price per share of $5.28, with overlapping investors. Secondary market sources estimated the company's valuation at $145 million as of early October 2025, reflecting capital efficiency of 0.69x total capital raised. Affinia's focus remains on advancing its gene therapy platform, with recent strategic developments including a collaboration with Vertex Pharmaceuticals on AAV capsids potentially worth up to $1.6 billion announced around the same time. The company's investor base underscores strong backing in the biotech sector for its innovative approach to durable gene therapies.
May 2021Series BEcoR1 Capital (lead); Farallon Capital Management (lead)$110M$366MAffinia Therapeutics is a Waltham, Massachusetts-based biotech company founded in 2019 that develops adeno-associated virus (AAV) vectors and gene therapies for rare and non-rare diseases, particularly focusing on central nervous system and muscle disorders with significant unmet medical needs. The company was founded based on scientific work by Luk Vandenberghe, an associate professor at Massachusetts Eye and Ear and Harvard Medical School, with key leadership including CEO Rick Modi and Chairman Sean Nolan, both formerly of AveXis, which was acquired by Novartis in 2018. In May 2021, Affinia raised $110 million in a Series B financing round co-led by EcoR1 Capital and Farallon Capital Management, with participation from Atlas Venture, Avidity Partners, Casdin Capital, F-Prime Capital, GV, Lonza, Mass General Brigham Ventures, New Enterprise Associates, Octagon Capital, Perceptive Advisors, RA Capital Management, TCG Crossover, and Woodline Partners, achieving a post-money valuation of $365.7 million. The proceeds were designated to advance the company's proprietary gene therapy platform, move programs into clinical trials, and support general corporate purposes. Prior to this round, Affinia had raised $60 million in a Series A financing in 2020 and had signed a strategic partnership with Vertex Pharmaceuticals valued at $80 million upfront with up to $1.6 billion in potential milestone, royalty, and other payments, indicating strong validation from both venture capital and pharmaceutical industry partners.
Mar 2020Series AF-Prime (lead); New Enterprise Associates (lead); Alexandria Venture Investments; Atlas Venture; Partners Innovation Fund; Lonza Group$60M-Affinia Therapeutics, an innovative gene therapy company, develops rationally designed adeno-associated virus (AAV) vectors and gene therapies targeting devastating genetic muscle and central nervous system (CNS) diseases with significant unmet need. The company announced the closing of an oversubscribed $60 million Series A financing on March 31, 2020, co-led by seed investors F-Prime Capital and New Enterprise Associates (NEA), alongside new investor Atlas Venture, with participation from Alexandria Venture Investments, Lonza, and Partners Innovation Fund. Proceeds were designated to advance the proprietary AAV platform and develop transformative gene therapies toward the clinic. Leadership includes CEO Rick Modi, formerly of AveXis, InterMune, MedImmune, and Centocor, with board additions Dave Grayzel (Atlas Venture), Ed Mathers (NEA), and Robert Weisskoff (F-Prime Capital); industry veteran Sean Nolan, ex-CEO of AveXis, chairs the board. The executive team and scientific co-founders Luk Vandenberghe, Botond Roska, and Aaron Tward bring expertise from advancing therapies like Zolgensma for spinal muscular atrophy. Affinia's approach emphasizes engineering novel AAV vectors with improved targeting properties, tissue tropism, cell specificity, safety, and yields to overcome limitations of conventional serotypes. Subsequent developments include a Series B financing of $110 million co-led by EcoR1 Capital and Farallon Capital Management in 2022, a Vertex Pharmaceuticals partnership with $80 million upfront and up to $1.6 billion in milestones, and a Series C of $40 million led by NEA in October 2025 supporting IND submission for lead program AFTX-201 in BAG3 dilated cardiomyopathy. Total funding raised exceeded $219 million across rounds by 2025, with a post-money valuation of $156.61 million noted for the Series C.

Who has invested in Affinia Therapeutics?

13 investors have backed Affinia Therapeutics across its funding rounds, including New Enterprise Associates, F-Prime, Alexandria Venture Investments, Atlas Venture, GV and Perceptive Advisors.

Lead investors include New Enterprise Associates, EcoR1 Capital, Farallon Capital Management and F-Prime.


Affinia Therapeutics Investors

Investors in Affinia Therapeutics by funding rounds participated
InvestorHQRoundsRoleFirst check
Alexandria Venture InvestmentsUnited StatesLos Angeles, CA2ParticipantMar 2020
New Enterprise AssociatesUnited StatesSan Francisco, CA2LeadMar 2020
F-PrimeUnited StatesUnited States2LeadMar 2020
Atlas VentureUnited StatesUnited States2ParticipantMar 2020
Avidity PartnersUnited StatesDallas, TX1ParticipantOct 2025
GVUnited StatesSan Francisco, CA1ParticipantOct 2025
Eli LillyUnited StatesIndianapolis, IN1ParticipantOct 2025
Farallon Capital ManagementUnited StatesSan Francisco, CA1LeadMay 2021
Partners Innovation FundUnited StatesBoston, MA1ParticipantMar 2020
Mass General Brigham VenturesUnited StatesUnited States1ParticipantOct 2025
EcoR1 CapitalUnited StatesSan Francisco, CA1LeadMay 2021

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Affinia Therapeutics Competitors

Affinia Therapeutics competitors include listed companies like Jagsonpal Pharma, Actinogen Medical, Syn2bio and Humacyte, and private ones like BioBlast Pharma and MXPHARMA.

Public and private companies comparable to Affinia Therapeutics
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Jagsonpal PharmaIndiaIndiaPublicly listed$30M$6M$157M-
Actinogen MedicalAustraliaAustraliaPublicly listed$359K($11M)$156M23.5x
BioBlast PharmaIsraelTel AvivPrivate--$156M-
MXPHARMAChinaTianjinPrivate--$155M-
Syn2bioPolandPolandPublicly listed-($7M)$159M-
HumacyteUnited StatesUnited StatesPublicly listed$2M($25M)$160M47.2x

Affinia Therapeutics Public Comps

Affinia Therapeutics is still privately-owned, but its public comps include Jagsonpal Pharma, Actinogen Medical, Syn2bio, Humacyte, Flerie, Pyridam Farma, TYK Medicines, Armata Pharmaceuticals, Molecular Partners and Conexeu Sciences.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Jagsonpal Pharma$30M$6M4.9x-25.1x-
Actinogen Medical$359K($11M)410.8x23.5x(13.8x)(19.7x)
Syn2bio-($7M)--(21.2x)-
Humacyte$2M($25M)71.7x47.2x(5.9x)-
Flerie-($80M)-12.1x(1.5x)(20.9x)
Pyridam Farma$156M($7M)3.0x-(64.9x)-
TYK Medicines-($40M)--(3.9x)-
Armata Pharmaceuticals-($156M)-99.7x(2.8x)(10.7x)

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Common questions about Affinia Therapeutics

When was Affinia Therapeutics founded?Affinia Therapeutics was founded in 2019.
Where is Affinia Therapeutics headquartered?Affinia Therapeutics is headquartered in Boston, MA, United States.
Is Affinia Therapeutics publicly listed?No, Affinia Therapeutics is a private, VC-backed company.
What is Affinia Therapeutics' valuation?Affinia Therapeutics was last valued at $157M in its Series C in October 2025.
How much funding has Affinia Therapeutics raised?Affinia Therapeutics has raised $210M across 3 funding rounds.
What was Affinia Therapeutics' last funding round?Affinia Therapeutics' last funding round was a $40M Series C in October 2025, led by New Enterprise Associates.
Who are Affinia Therapeutics' investors?Affinia Therapeutics' investors include Alexandria Venture Investments, New Enterprise Associates, F-Prime, Atlas Venture, Avidity Partners, GV, Eli Lilly, Farallon Capital Management, Partners Innovation Fund, Mass General Brigham Ventures and 3 others.
Which companies are comparable to Affinia Therapeutics?Companies comparable to Affinia Therapeutics include Jagsonpal Pharma, Actinogen Medical, BioBlast Pharma, MXPHARMA, Syn2bio and Humacyte.

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