Orchard Therapeutics, a leading commercial-stage company dedicated to transforming the lives of patients with rare diseases through innovative gene therapies, has announced the completion of an oversubscribed $150 million Series C financing.
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, LP, as well as additional U.S. based healthcare focused funds.
Existing investors also participated including Temasek, Baillie Gifford, RTW Investments, LP, Cowen Healthcare Investments and Agent Capital.
Proceeds from the Series C financing will be used to progress Orchards 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) towards registration and commercialization. The funding will also support the clinical and preclinical development of the companys rare disease gene therapy pipeline.
We are thrilled to have such strong support from both new and existing investors in this financing round, Mark Rothera, president and CEO of Orchard said.
The quality of this investor syndicate is a testament to the confidence we have built among our stakeholders, based on the substantial progress of Orchards clinical and preclinical programs since our Series B round last year, Rothera further stated.
Frank Thomas, CFO and chief business officer of Orchard, said, This financing provides Orchard with additional capital to rapidly progress our most advanced clinical programs to commercialization. We are advancing our pipeline of potentially transformative gene therapies in primary immune deficiencies and neurometabolic disorders to reach patients as quickly as possible.