4D Molecular Raises $119 Million in Public Offering to Advance Gene Therapy Pipeline
October 29, 2021
Rare disease gene therapy developer 4D Molecular Therapeutics raised $119 million in a secondary public offering of 4.75 million shares of common stock at $25 per share.
In addition, 4D Molecular Therapeutics has granted the underwriters a 30-day option to purchase up to an additional 712,500 shares of common stock at the public offering price, less underwriting discounts and commissions.
4D Molecular is developing precision guided AAV gene medicines based on directed evolution. The biotech says its proprietary Therapeutic Vector Evolution platform enables customization of AAV vectors to target specific tissue types associated with the underlying disease. These optimized AAV vectors are designed to provide targeted delivery by routine clinical routes, efficient transduction, reduced immunogenicity, and resistance to pre-existing antibodies—attributes that the company says could enable the development of gene therapies that overcome known limitations of conventional AAV vectors and enable 4DMT to pursue previously untreatable patient populations and address a broad range of rare and large market disease markets.
The financing will support the company’s three gene therapy candidates in clinical trials for the treatment of rare diseases: 4D-310 for the treatment of Fabry disease; 4D-125 for the treatment of X-linked retinitis pigmentosa; and 4D-110, a candidate for the treatment of choroideremia, a blinding disease with no approved therapies.
Proceeds will also be used to advance the biotech’s preclinical pipeline and platform, including IND-enabling studies for 4D-710, its experimental aerosol treatment of cystic fibrosis lung disease, and candidates in neuromuscular diseases and ophthalmology for both rare and large markets.
Author: Rare Daily Staff
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