Orchard Therapeutics said Monday that it raised $150 million via a Series C financing, which the company plans to use to advance its clinical programmes, including OTL-101 for adenosine deaminase (ADA) severe combined immunodeficiency. Chief financial officer Frank Thomas remarked "we are advancing our pipeline of potentially transformative gene therapies in primary immune deficiencies and neurometabolic disorders to reach patients as quickly as possible."
The fundraising comes after Orchard Therapeutics reached an agreement in April to gain GlaxoSmithKline's portfolio of approved and investigational rare disease gene therapies. Under the deal, which included Strimvelis for the treatment of children with ADA severe combined immunodeficiency, the UK firm gained a nearly 20-percent stake in Orchard Therapeutics.
Orchard Therapeutics noted that the latest funding will be used to advance the investigational metachromatic leukodystrophy therapy OTL-200 and experimental Wiskott–Aldrich syndrome drug OTL-103 towards registration and commercialisation. The company added that the proceeds will also support the clinical and preclinical development of its rare disease gene therapy pipeline.
Last year, Orchard Therapeutics announced the completion of a $110-million Series B financing, with the proceeds used to advance its pipeline, including OTL-101.
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