Or­chard lines up mon­ey for pro­posed Lib­meldy ex­pan­sion; Har­bour touts PhI­II

Gene ther­a­py mak­er Or­chard Ther­a­peu­tics is ex­tend­ing its cash run­way in­to 2025 with new fi­nanc­ing agree­ments to bankroll its path to reg­u­la­to­ry ap­proval.

The Lon­don and Boston biotech said it could gar­ner $188 mil­lion via a se­cu­ri­ties pur­chase agree­ment and a pri­vate place­ment of war­rants. Back­ers in­clude RA Cap­i­tal, Deep Track Cap­i­tal, Cowen Health­care, Wood­line Part­ners and Zen­tree In­vest­ments.

Or­chard eyes US clear­ance of OTL-200, a gene ther­a­py can­di­date for metachro­mat­ic leukody­s­tro­phy, af­ter cut­ting back on oth­er pro­grams last year. The treat­ment is ap­proved in the EU and oth­er Eu­ro­pean re­gions as Lib­meldy and brought in $18.8 mil­lion last year, Or­chard said Mon­day.

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