Rare Daily Staff
Orchard Therapeutics said it completed an oversubscribed series C financing of $150 million to advance its gene therapy pipeline.
Deerfield Management led the financing with significant new investments from RA Capital Management, Venrock, Foresite Capital, Perceptive Advisors, Cormorant Asset Management LP, ArrowMark Partners, Sphera Global Healthcare, Medison Ventures, Driehaus Capital Management and Ghost Tree Capital Group. Additional U.S.-based healthcare focused funds participated in the round along with existing investors Temasek, Baillie Gifford, RTW Investments, Cowen Healthcare Investments, and Agent Capital.
Proceeds from the financing will be used to progress Orchard’s three most advanced clinical programs: OTL-101 for adenosine deaminase severe combined immunodeficiency (ADA-SCID), OTL-200 for metachromatic leukodystrophy (MLD) and OTL-103 for Wiskott–Aldrich syndrome (WAS). The funding will also support the clinical and preclinical development of the company’s rare disease gene therapy pipeline.
“The quality of this investor syndicate is a testament to the confidence we have built among our stakeholders, based on the substantial progress of Orchard’s clinical and preclinical programs since our Series B round last year,” said Mark Rothera, president and CEO of Orchard.
August 14, 2018
Photo: Mark Rothera, president and CEO of Orchard