MARKETS & INVESTING | Staff Reporter, Singapore

Temasek joins US$150m funding for US biotech firm

Orchard Therapeutics will utilise the funding to register and commercialise their clinical programs.

Temasek joined the US$150m Series C financing led by New York-based hedge fund sponsor Deerfield Management for US biotech firm Orchard Therapeutics, an announcement revealed.

“We are pleased to have led this round of financing. We believe the company has generated compelling clinical data on products which have the potential to become breakthrough treatments for patients,” Deerfield Management principal Elise Wang said.

Orchard Therapeutics will utilise the fund in order for the firm’s advanced clinical programs to approach registration and commercialization. The completed deal will also back the clinical and preclinical development of the company’s rare disease gene therapy pipeline.

“We are advancing our pipeline of potentially transformative gene therapies in primary immune deficiencies and neurometabolic disorders to reach patients as quickly as possible,” Orchard CFO and cheif business officer Frank Thomas commented.

The firm holds offices in London, San Francisco, and Boston.

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