Orchard Therapeutics closes $110mm Series B

Orchard Therapeutics (gene therapies for rare diseases) raised $110mm (£85mm) through an oversubscribed Series B financing co-led by Baillie Gifford and ORI Capital (adds a board member), which were joined by first-time backers Temasek, Cowen Healthcare Investments, Juda Capital, Pavilion Capital, RTW Investments, Agent Capital, and 4BIO Capital and returning shareholders F-Prime Capital and UCL Technology Fund. The company will use the proceeds for pipeline development including lead program OTL101, which is in Phase III for adenosine deaminase severe combined immunodeficiency. The candidate already has breakthrough therapy designation from the FDA. Orchard has earlier-stage compounds for X-linked chronic granulomatous disease and Sanfilippo syndromes Type A and B. Additional Series B funds will help expand its manufacturing infrastructure and for business development activities.