BRIEF—Orchard Therapeutics raises $150 million to advance gene therapy pipeline

USA and UK-based Orchard Therapeutics today 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, as well as additional UA- based healthcare focused funds.

Existing investors also participated including Temasek, Baillie Gifford, RTW Investments, LP, Cowen Healthcare Investments and Agent Capital.

Proceeds from the 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.