Orchard raises $150m to advance gene therapies 14th August 2018
UK-American biotech Orchard Therapeutics has raised $150 million to fuel development of its gene therapy pipeline.
The group says it will use the cash to progress towards registration of its three most advanced clinical programmes: OTL-101 for adenosine deaminase severe combined immunodeficiency; OTL-200 for metachromatic leukodystrophy; and OTL-103 for Wiskott–Aldrich syndrome (WAS).
The funds will also be used to support the clinical and preclinical development of the Orchard’s rare disease gene therapy pipeline, the firm noted.
“We are thrilled to have such strong support from both new and existing investors in this financing round,” said Mark Rothera, Orchard’s president and chief executive.
“This financing provides Orchard with additional capital to rapidly progress our most advanced clinical programs to commercialisation. We are advancing our pipeline of potentially transformative gene therapies in primary immune deficiencies and neurometabolic disorders to reach patients as quickly as possible,” added Frank Thomas, the firm’s chief financial and chief business officer.