London-based Orchard Therapeutics, a biotechnology company dedicated to transforming the lives of patients with rare disorders through innovative gene therapies, today announced the completion of an oversubscribed £85 million (US$110 million) Series B round of financing.
Baillie Gifford and ORI Capital co-led the round with significant new investments from Temasek and Cowen Healthcare Investments, alongside Juda Capital, Pavilion Capital, RTW Investments, Agent Capital, 4BIO Capital. Existing investors F-Prime Capital and UCL Technology Fund also participated in the round.
Autologous ex-vivo gene therapy
Source: Orchard Therapeutics
Proceeds of the Series B round will be used to rapidly progress Orchard’s pipeline, including the global launch of OTL-101, and to expand their manufacturing infrastructure and business development activity. Orchard’s lead product, OTL-101, is an autologous ex-vivo lentiviral gene therapy in development for the treatment of adenosine deaminase severe combined immunodeficiency (ADA-SCID), a rare and life-threatening inherited disorder of the immune system. OTL-101 has been granted Breakthrough Therapy Designation by the FDA and is currently in late stage clinical development. Orchard’s pipeline includes other clinical and pre-clinical stage transformative gene therapies for immune deficiencies, including X-linked chronic granulomatous disease (X-CGD) and metabolic diseases, including MPS-IIIA and MPS-IIIB (Sanfilippo syndrome type A and type B).
Orchard has quickly established itself as a force in gene therapy. We are delighted to co-lead this financing and provide our support to deliver multiple life-saving medicines in this pipeline to patients with severe genetic diseases.
– Simone Song, senior partner at ORI Capital and new director of Orchard Therapeutics
The size of this financing greatly exceeds the initial goal. This speaks to the quality of Orchard’s pipeline and to the expertise of the team. We are delighted that a top-tier investor syndicate with international reach has supported Orchard.
– Alex Pasteur, partner at F-Prime Capital, Orchard’s founding institutional investor, and a director of Orchard Therapeutics