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拢438 million investment for 果冻影院 gene therapy spinouts
8 November 2018
果冻影院 spinout Orchard Therapeutics, a biotechnology company dedicated to transforming the lives of patients with rare disorders through innovative gene therapies, has raised $225 million (拢173 million) through its initial public offering.
The funding success adds to an unprecedented summer that saw 果冻影院 spinout companies raise 拢265 million of investment which could transform patient outcomes.
Founded in 2015 through a partnership between 果冻影院B and F Prime Capital Partners, Orchard Therapeutics is based on research arising from the groups of Professor Bobby Gaspar and Professor Adrian Thrasher at the 果冻影院 GOS Institute of Child Health. 果冻影院B is the part of 果冻影院 Innovation & Enterprise that specialises in commercialising technology.
Orchard's development programmes focus on restoring normal gene function in primary immune deficiencies, metabolic diseases and haematological disorders.听
This pioneering technology uses a sample of the patient's own stem cells, which are modified with a functioning copy of the missing or faulty gene before being transplanted back into the patient's body.听
Using the patient's own (autologous) cells removes the need to search for a matching stem cell donor, which can take months or even years.
Orchard's lead programme is for the treatment of the rare and fatal disorder called severe combined immunodeficiency caused by adenosine deaminase deficiency (ADA-SCID), sometimes referred to as "bubble baby" syndrome in the press. Children with the disorder must be protected from any infections due to their highly fragile immune system.
"Rare diseases like the one's Orchard were established to develop treatments for, particularly rare childhood diseases, are often underfunded but this demonstrates peoples' commitment to changing that with the ultimate goal of improving the lives of very sick adults and children. I am extremely proud that Orchard has come so far in only three years," said Professor Thrasher.
Prior to the IPO, the Company had already raised $150 million Series C financing in August 2018 and $110m from a Series B round that completed in December 2017 to which the 果冻影院 Technology Fund (果冻影院TF) contributed. 果冻影院TF is a 拢53m fund established by 果冻影院B and Albion Capital to invest in commercialisable technologies emerging from 果冻影院.
Dr Anne Lane, 果冻影院B Interim Managing Director commented, "Over the last ten years alone, 果冻影院B has helped the 果冻影院 community commercialise its world-leading, world-changing technologies and innovations into spinout companies that have collectively raised in excess of 拢1 billion investment."
"We're thrilled at Orchard's success and this is in no small part due to the innovative, hard work of 果冻影院 researchers and the foresight of the 果冻影院B team in recognising the potential investment opportunity."
Three other 果冻影院 spinout companies that are working to deliver advanced therapeutics to treat a range of diseases and have benefitted from substantial investment this summer include Autolus Therapetics Ltd, Athena Vision Ltd (acquired in the formation of MeiraGTx) and Freeline Ltd.
Autolus Therapeutics Ltd, based on advanced cell programming technology pioneered by Dr Martin Pule (果冻影院 Cancer Institute), made its debut on the NASDAQ in June, raising $160 million investment.
MeiraGTx Holdings plc, a London and New York-based clinical stage gene therapy company focused on developing potentially curative treatments for patients living with serious diseases, raised $75 million at the close of its initial public offering on the NASDAQ.
The company was founded in the UK in 2015 in a series of deals which combined 果冻影院B spinout Athena Vision and certain assets of Kadmon Corporation, LLC a US specialty pharmaceutical company.
Also in June, Freeline Therapeutics, a clinical-stage company focused on treating chronic systemic diseases with liver-targeted gene therapy developed by Professor Amit Nathwani (果冻影院 Cancer Institute), announced that it had raised over 拢88 million of new capital in a Series B financing.
In addition, MeiraGTx and Freeline have benefitted from investment from the 果冻影院 Technology Fund. The Fund has been so successful, that is it looking to establish a subsequent fund only three years after its launch.
Dr Celia Caulcott, 果冻影院 Vice-Provost (Enterprise), said:听 "The phenomenal accomplishment of raising over 拢430 million to bring new gene therapies to clinic, demonstrates the immense value of supporting each other and working collaboratively across the 果冻影院 community and partner organisations.
"果冻影院 Innovation & Enterprise are building on this success together by continuing to bring 果冻影院's amazing ideas to market, addressing some of the world's toughest challenges and creating true impact."
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Media contact
Bex Caygill
罢别濒:听+44 (0)20 3108 3846
Email: r.caygill [at] ucl.ac.uk