Gene therapy remains one of the hottest fields in biotech.
Right on the heels of striking collaboration deals with Roche and AstraZeneca, 4D Molecular Therapeutics is following up this morning with a big raise, adding $90 million to the bankroll through a Series B round for the gene therapy startup.
Their lead AAV gene therapy program is set to go into the next year.
Pfizer helped get Emeryville, CA-based 4DMT off the ground with a deal back in 2016, with researchers aimed at cardiac diseases. Then Roche expanded their deal on ophthalmology earlier this year, bagging rights to their lead drug 4D-110 — a drug for choroideremia, or inherited night blindness — in an effort that zeroes in on blinding retinal diseases. Then AstraZeneca stepped up with an alliance on chronic lung disease.
The round was led by Viking Global Investors, with participation from ArrowMark Partners, Janus Henderson Investors, MiraeAsset Financial Group, Pappas Capital & Chiesi Ventures, Pfizer Venture Investments, Perceptive Advisors, Ridgeback Capital Investments, CureDuchenne Ventures and Berkeley Catalyst Fund.
“4DMT’s next-generation Therapeutic Vector Evolution platform generates highly optimized and proprietary AAV vectors that have the potential to overcome the delivery and immunological challenges currently facing the field, and to ultimately unlock the full potential of gene therapy,” said David Kirn, chairman and chief executive officer of 4DMT.
The best place to read Endpoints News? In your inbox.
Comprehensive daily news report for those who discover, develop, and market drugs. Join 32,500+ biopharma pros who read Endpoints News by email every day.Free Subscription