Prevail Therapeutics Acquisition, Valuation, Funding & Investors

Prevail Therapeutics was acquired by Eli Lilly for $1B in December 2020.

Prevail Therapeutics acquisition price

$1B

Acquired by Eli Lilly · Dec 2020

Cumulative funding Prevail Therapeutics raised

$129M

across 3 funding rounds

Key investors in Prevail Therapeutics

  • OrbiMed
  • RA Capital Management
  • Alexandria Venture Investments
  • Omega Funds
  • Biotechnology Value Fund
  • Pontifax
  • Boxer Capital
  • EcoR1 Capital

Prevail Therapeutics Overview

About Prevail Therapeutics

Prevail Therapeutics is a New York-headquartered gene therapy company targeting Parkinson's disease and lysosomal storage disorders. Launched in 2017 by The Silverstein Foundation, REGENXBIO, and OrbiMed, it develops AAV-based therapies for GBA1 mutations and synucleinopathies. Acquired by Eli Lilly in 2020 for $880 million, Prevail advances PR001 for Parkinson's into clinical stages using REGENXBIO's NAV technology.


Founded

2017

HQ

United StatesNew York City, NY

Status

Acquired

Customer focus

B2B

Revenue model

Licensing

Valuation

$1B (acquired Dec 2020)

Prevail Therapeutics Acquisition

Prevail Therapeutics was acquired by Eli Lilly for $1B on 15 December 2020.

Before the acquisition Prevail Therapeutics had raised $129M across 3 funding rounds.

Prevail Therapeutics acquisition details
AcquirerDateTypePrice
15 Dec 2020Strategic M&A$1B

Prevail Therapeutics Funding History

Prevail Therapeutics has raised a total of $129M across 3 funding rounds.

Prevail Therapeutics' first fundraising round was a $4M seed round in August 2017. The most recent completed round was a $50M Series B in March 2019.

Prevail Therapeutics funding rounds

Prevail Therapeutics funding rounds
DateStageInvestorsRaisedDeal Summary
Mar 2019Series BBoxer Capital; Alexandria Venture Investments; AbbVie; Biotechnology Value Fund; Omega Funds; RA Capital Management; Adage Capital Management; Pontifax; OrbiMed; EcoR1 Capital; Surveyor Capital$50MPrevail Therapeutics, founded in 2017 by Asa Abeliovich, is a gene therapy company developing AAV-based therapies for neurodegenerative diseases like Parkinson's with GBA1 mutations (PD-GBA), neuronopathic Gaucher disease (nGD), and frontotemporal dementia with GRN mutations (FTD-GRN). On March 27, 2019, it secured $50 million in Series B financing from existing investors OrbiMed, Pontifax, RA Capital Management, EcoR1 Capital, Omega Funds, BVF Partners, Boxer Capital, Adage Capital Management, Alexandria Venture Investments, and new investors Surveyor Capital, AbbVie Ventures, and others. This brought total funding to approximately $129 million, with proceeds to advance its pipeline and transition to clinical-stage development. The company focused on novel gene therapies leveraging human genetics breakthroughs for disease-modifying treatments. By late 2019, Prevail initiated dosing in the PROPEL Phase 1/2 trial for PR001 in PD-GBA and prepared the PROVIDE trial for nGD after FDA IND acceptance. Cash position grew to $168.1 million by December 31, 2019, from $63.0 million in 2018, supporting R&D expenses of $48.8 million (up from $14.1 million) and G&A of $17.0 million (up from $4.7 million) due to manufacturing, clinical activities, and headcount growth. In 2020, Eli Lilly agreed to acquire Prevail for $1 billion to bolster its gene therapy efforts in neuroscience, integrating Prevail's PR001 and PR006 programs. Prevail had established manufacturing platforms and a broad pipeline targeting fatal genetic neurodegenerative conditions.
Mar 2018Series AOrbiMed (lead); Boxer Capital; Alexandria Venture Investments; Biotechnology Value Fund; Omega Funds; RA Capital Management; Adage Capital Management; Pontifax; EcoR1 Capital$75MPrevail Therapeutics, a New York-based biotechnology company, was launched in 2017 by OrbiMed, the Silverstein Foundation for Parkinson’s with GBA, and REGENXBIO to develop gene therapies targeting lysosomal dysfunction in genetically defined neurodegenerative diseases, primarily Parkinson’s disease (PD) caused by GBA1 mutations affecting about 10% of PD patients. The company’s lead program, PR001, is an AAV-based gene therapy using REGENXBIO’s NAV AAV9 vector for GBA1-linked PD and potentially broader applications. Co-founded by Asa Abeliovich, M.D., Ph.D., from Columbia University, Prevail aims to create disease-modifying therapies to slow, stop, or reverse neurodegeneration beyond symptom relief. In August 2018, Prevail announced a $75 million Series A financing round led by OrbiMed, with participation from Pontifax Fund, RA Capital Management, EcoR1 Capital, Omega Funds, BVF Partners L.P., Boxer Capital, LLC, Adage Capital Management L.P., and Alexandria Venture Investments. This followed seed funding from OrbiMed and the Silverstein Foundation. The proceeds were designated to advance Prevail’s pipeline of AAV therapeutics, including PR001, toward clinical development. OrbiMed’s Jonathan Silverstein, who has GBA1-related PD, highlighted the alignment with efforts to address underlying genetic causes of neurodegenerative diseases. Later developments included a $125 million IPO in 2019.
Aug 2017Seed-$4MPrevail Therapeutics, founded in 2017 by Asa Abeliovich with OrbiMed and the Silverstein Foundation, develops AAV-based gene therapies for neurodegenerative diseases like Parkinson's caused by lysosomal dysfunction, with lead candidate PR001 targeting GBA1 mutations. The company secured $75 million in Series A funding in early 2018 from investors including OrbiMed, Pontifax Fund, RA Capital Management, EcoR1 Capital, Omega Funds, BVF Partners, Boxer Capital, Adage Capital Management, and Alexandria Venture Investments, following undisclosed seed capital. Proceeds supported pipeline development including PR001 and licensing of Regenxbio's NAV AAV9 vector technology. Prevail raised an additional $50 million Series B in March 2019 from existing and new investors like Surveyor Capital and AbbVie Ventures, bringing total funding to approximately $129 million to advance toward clinical stages.

Who has invested in Prevail Therapeutics?

11 investors have backed Prevail Therapeutics across its funding rounds, including OrbiMed, RA Capital Management, Alexandria Venture Investments, Omega Funds, Biotechnology Value Fund and Pontifax.

Lead investors include OrbiMed.


Prevail Therapeutics Investors

Investors in Prevail Therapeutics by funding rounds participated
InvestorHQRoundsRoleFirst check
Boxer CapitalUnited StatesOrlando, FL2ParticipantMar 2018
Alexandria Venture InvestmentsUnited StatesLos Angeles, CA2ParticipantMar 2018
Biotechnology Value FundUnited StatesSan Francisco, CA2ParticipantMar 2018
Omega FundsUnited StatesBoston, MA2ParticipantMar 2018
RA Capital ManagementUnited StatesBoston, MA2ParticipantMar 2018
Adage Capital ManagementUnited StatesUnited States2ParticipantMar 2018
PontifaxIsraelHerzliya2ParticipantMar 2018
OrbiMedUnited StatesNew York City, NY2LeadMar 2018
EcoR1 CapitalUnited StatesSan Francisco, CA2ParticipantMar 2018

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Prevail Therapeutics Competitors

Prevail Therapeutics competitors include listed companies like Basilea Pharmaceutica, Kura Oncology, Oscotec and Attovia Therapeutics, and private ones like Formation Bio and BenevolentAI.

Public and private companies comparable to Prevail Therapeutics
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Formation BioUnited StatesNew York City, NYPrivate--$1B-
Basilea PharmaceuticaSwitzerlandSwitzerlandPublicly listed$283M$61M$1B3.0x
Kura OncologyUnited StatesUnited StatesPublicly listed$67M($303M)$1B6.2x
OscotecSouth KoreaSouth KoreaPublicly listed$73M$38M$1B14.9x
Attovia TherapeuticsUnited StatesUnited StatesPublicly listed$1M($66M)$1B-
BenevolentAIUnited KingdomLondonPrivate$10M-$1B100.0x

Prevail Therapeutics Public Comps

Prevail Therapeutics is no longer listed, but its public comps include Basilea Pharmaceutica, Kura Oncology, Oscotec, Attovia Therapeutics, Bio-Thera Solutions, SPIMACO - ADDWAEIH, Janux Therapeutics, MoonLake, Silence Therapeutics and Corvus Pharma.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Basilea Pharmaceutica$283M$61M3.3x3.0x15.4x11.9x
Kura Oncology$67M($303M)8.1x6.2x(1.8x)(1.8x)
Oscotec$73M$38M12.5x14.9x23.7x30.4x
Attovia Therapeutics$1M($66M)876.1x-(17.8x)-
Bio-Thera Solutions$139M($31M)7.9x-(35.2x)-
SPIMACO - ADDWAEIH$455M$103M3.0x3.0x13.3x13.3x
Janux Therapeutics$10M($156M)8.1x3.3x(0.5x)(0.5x)
MoonLake-($220M)--(2.8x)(2.5x)

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Common questions about Prevail Therapeutics

When was Prevail Therapeutics founded?Prevail Therapeutics was founded in 2017.
Where is Prevail Therapeutics headquartered?Prevail Therapeutics is headquartered in New York City, NY, United States.
Is Prevail Therapeutics publicly listed?No, Prevail Therapeutics was acquired by Eli Lilly in December 2020.
Who acquired Prevail Therapeutics?Prevail Therapeutics was acquired by Eli Lilly in December 2020.
How much was Prevail Therapeutics acquired for?Prevail Therapeutics was acquired for $1B in December 2020.
How much funding has Prevail Therapeutics raised?Prevail Therapeutics has raised $129M across 3 funding rounds.
What was Prevail Therapeutics' last funding round?Prevail Therapeutics' last funding round was a $50M Series B in March 2019.
Who are Prevail Therapeutics' investors?Prevail Therapeutics' investors include Boxer Capital, Alexandria Venture Investments, Biotechnology Value Fund, Omega Funds, RA Capital Management, Adage Capital Management, Pontifax, OrbiMed, EcoR1 Capital, AbbVie and 1 other.
Which companies are comparable to Prevail Therapeutics?Companies comparable to Prevail Therapeutics include Formation Bio, Basilea Pharmaceutica, Kura Oncology, Oscotec, Attovia Therapeutics and BenevolentAI.

See companies similar to Prevail Therapeutics

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