Anglo-American biotech company Orchard Therapeutics has raised a further US$150 million to fund its work in gene therapy, building on earlier fundraisings worth more than US$140 million. LONDON: Anglo-American biotech company Orchard Therapeutics has raised a further US$150 million to fund its work in gene therapy, building on earlier fundraisings worth more than US$140 million. The new financing comes four months after its acquisition of a portfolio of GlaxoSmithKline rare disease medicines, including the gene therapy Strimvelis for ADA severe combined immune deficiency (ADA-SCID), or "bubble baby" disease. Gene therapy is a hot area for drug research - highlighted by Novartis's US$8.7 billion acquisition of AveXis in April - but products sold to Orchard are viewed as too niche for GSK as it refocuses its drug research under CEO Emma Walmsley. Strimvelis has so far been used to treat just a handful of patients since its launch in Europe two years ago. Orchard, which has previously said it would consider an initial public offering (IPO) as the company develops, said on Monday the latest financing had been led by Deerfield Management, with further money from new and existing investors. Orchard was incorporated in September 2015 and is focused on ex-vivo gene therapy, in which stem cells are taken from the patient and genetically corrected outside of the body before being transplanted back. (Reporting by Ben Hirschler; Editing by Keith Weir)
UK and US based biotech firm Orchard Therapeutics has secured funding of $150m to expand its work in gene therapy. The company is developing a new treatment for the rare blood disorder called hemophilia B, which affects about one million people worldwide. ’s portfolio of rare disease gene therapies, and builds on previous financing of $140m.