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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