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Crossover investors join Orchard's syndicate in $150M series C

August 13, 2018 7:22 PM UTC

Gene therapy company Orchard Therapeutics Ltd. (London, U.K.) raised $150 million in a series C round led by Deerfield Management. Also participating were new investors RA Capital, Venrock, Foresite Capital, Perceptive Advisors, Cormorant Asset Management, ArrowMark Partners, Sphera Global Healthcare, Medison Ventures, Driehaus Capital, Ghost Tree Capital and undisclosed U.S.-based healthcare-focused funds, and existing investors Temasek, Baillie Gifford, RTW Investments, Cowen Healthcare and Agent Capital.

In April, Orchard obtained rights to a portfolio of gene therapies from GlaxoSmithKline plc (LSE:GSK; NYSE:GSK) including Strimvelis, which is approved in Europe to treat children with severe combined immunodeficiency due to ADA deficiency (ADA-SCID). The deal gave GSK a 19.9% stake in Orchard (see "Orchard Gains GSK's Rare Disease Gene Therapy Portfolio")...

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