Temasek backs Orchard Therapeutics’ $150m Series C round

An automated machine works on purification of potential hepatitis C virus drug candidate at the Gilead Sciences Inc. lab in Foster City, California, U.S., on Wednesday, Feb. 8, 2012. Photographer: David Paul Morris/Bloomberg

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.

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Singapore Reporter/s

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Following vacancies can be applied for (only in Singapore).   

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.