Gene therapy company 4D Molecular Therapeutics raises $90m in new funding
California-based gene therapy company 4D Molecular Therapeutics (4DMT), which is focused on adeno-associated virus (AAV) gene therapy vector discovery and product development, has raised $90 million through a Series B financing round.
Viking Global Investors led the new funding round in the gene therapy company with ArrowMark Partners, Janus Henderson Investors, The Biotechnology Value Fund, MiraeAsset Financial Group, Pfizer Ventures, Perceptive Advisors, Pappas Capital & Chiesi Ventures, CureDuchenne Ventures, Berkeley Catalyst Fund and Ridgeback Capital Investments being the other participants.
4D Molecular Therapeutics will use the newly raised capital to advance its Therapeutic Vector Evolution platform and pipeline of AAV gene therapeutics.
The lead asset of the gene therapy company is an intravitreally-delivered AAV gene therapy for choroideremia, which is likely to enter clinical trials next year.
4D Molecular Therapeutics, a California-based gene therapy company raised $90m in new funding. Image courtesy of dream designs at FreeDigitalPhotos.net.
Tony Yao – portfolio manager of ArrowMark Partners, commenting on the investment made in the gene therapy company, said: “Gene therapy is an important therapeutic modality to treat severe genetic diseases, and I believe 4DMT’s Therapeutic Vector Evolution platform will deliver gene therapeutics with significant clinical advantages over competitive programs.”
4D Molecular Therapeutics is engaged on the discovery and development of targeted, personalized and next-generation AAV gene therapy products for use in patients suffering from severe genetic disorders with high unmet medical need.
The gene therapy company said that the Therapeutic Vector Evolution platform helps it to develop personalized gene therapy products to deliver genes to any tissue or organ in the body specifically, by the optimal clinical route of administration at lower doses for any given disorder, and with resistance to pre-existing antibodies.
Commenting on the new funding raised by the gene therapy company, David Kirn -chairman and CEO of 4D Molecular Therapeutics, said: “4DMT is dedicated to creating highly effective AAV gene therapy products to cure patients with severe genetic diseases. 4DMT’s next-generation Therapeutic Vector Evolution platform generates targeted, 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.”