Deutsche Bank AG Grows Stock Holdings in Avidity Biosciences, Inc. (NASDAQ:RNA)

Deutsche Bank AG has recently announced that it has grown its stock holdings in Avidity Biosciences, Inc. (NASDAQRNA) by an undisclosed amount. Avidity Biosciences is a biotechnology company focused on developing and commercializing RNA-based therapies for the treatment of rare genetic diseases.

The company's lead product candidate, AVB-005, is currently in Phase 2 clinical trials for the treatment of spinal muscular atrophy (SMA), a rare and debilitating neuromuscular disorder that affects approximately 1 in 10,000 people worldwide. SMA is caused by mutations in the SMN1 gene, which leads to the production of an unstable form of survival motor neuron protein (SMN).

AVB-005 works by increasing the levels of full-length SMN in muscle cells, which can help improve muscle strength and function in people with SMA. The drug is being developed in collaboration with the National Institute of Neurological Disorders and Stroke (NINDS) and has received orphan drug designation from the US Food and Drug Administration (FDA).

In addition to AVB-005, Avidity Biosciences also has several other RNA-based therapies in development for the treatment of rare genetic diseases. These include AVB-010, which is being developed for the treatment of Duchenne muscular dystrophy (DMD), and AVB-020, which is being developed for the treatment of Pompe disease.

Deutsche Bank AG has been a significant investor in Avidity Biosciences since its founding in 2016. The bank has provided the company with funding to support its clinical development programs and has also provided strategic advice on business development and corporate finance matters.