Biotech firm Orchard Therapeutics has announced the completion of a $150-million Series C financing led by Deerfield Management.
New investors that joined the round included RA Capital Management, Venrock, Foresite Capital and Perceptive Advisors, according to an official release. Existing investors also participated, including Temasek, Baillie Gifford, RTW Investments, LP, Cowen Healthcare Investments and Agent Capital.
Orchard Therapeutics is a fully integrated commercial-stage biotechnology company working on innovative gene therapies.
Proceeds from the Series C 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) towards registration and commercialization.
The funding will also support the clinical and preclinical development of the company’s rare disease gene therapy pipeline.
“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,” said Orchard CFO and chief business officer Frank Thomas.
Orchard raised its Series B round of funding in December last year, securing $110 million in a round led by Baillie Gifford and ORI Capital and joined by a host of investors including Temasek, Cowen Healthcare Investments and Pavilion Capital.