4DMT to Use $75 Million Series C to Advance Three Key Pipeline Products
California-based 4D Molecular Therapeutics (4DMT) announced today that it has concluded a $75 million Series C round of financing, led by Viking Global Investors. Proceeds from the funding round will be used to advance three of the company’s precision-guided AAV gene therapy product candidates through initial clinical proof-of-concept in patients.
In addition, the financing will be leveraged to advance 4DMT’s proprietary product pipeline, as well as its Therapeutic Vector Evolution platform.
Before the end of this year, 4DMT intends to launch clinical trials for 4D-310, its product candidate for the treatment of Fabry disease, and 4D-125 and 4D-110, its two ophthalmology product candidates.
“This financing enables 4DMT to advance three product candidates into clinical trials, and to progress our mission of unlocking the full potential of gene therapy for broad populations of patients suffering from both rare and large market diseases,” said David Kirn, MD, co-founder, chairman and chief executive officer of 4DMT. “We are privileged to be supported by such high caliber life science investors who share our vision.”
4DMT is just one of many companies to close funding rounds as of late. U.K.-based Bit Bio, previously known as Elpis Biotechnology, announced on Monday that it had concluded a $41.5 million Series A funding round. The financing was led by life sciences investor Richard Klausner, the former director of the National Cancer Institute, as well as Foresite Capital, Blueyard Capital and Arch Venture Partners.
Bit Bio is aiming to commercialize Opti-OX, a proprietary technology platform for the efficient and consistent reprogramming of human cells for research, drug discovery and cell therapy.
“Bit Bio is based on beautiful science,” said Klausner. “The company’s technology has the potential to bring the long-awaited precision and reliability of engineering to the application of stem cells. Bit Bio’s approach represents a paradigm shift in biology that will enable a new generation of cell therapies, improving the lives of millions.”
Chicago-based Kalderos also announced on Monday that it had raised $28 million in a Series B funding round, led by Bain Capital Ventures and Mercato Partners. The company will use the financing to solidify its point-of-sale solution, expand to directly support patient and other discount types, and explore other financial exchanges in the healthcare industry.
"In the short year since we closed our Series A funding round, we quadrupled our team, expanded our current drug discount management solution to cover additional programs and completed beta testing of the first dedicated IT infrastructure for proactive, preventative drug discount management. Already, our legacy solution has identified more than $100 million in noncompliant drug discounts," said Jeremy Docken, CEO and co-founder, Kalderos. "With this additional funding, we're forging ahead in our mission to be the drug discount management pioneer and, ultimately, create additional infrastructure to further streamline the interactions between participants in the healthcare ecosystem. We're excited to partner with Bain Capital Ventures in Kalderos' next life cycle and we're grateful for the continued support from Mercato Partners."
Kalderos notes that it is currently planning for the launch of its 501(c)(3) nonprofit arm as well. Once operational, the company hopes that this arm will provide more support to patients directly by helping them with medication affordability and accessibility.
Founded back in 2016, Kalderos is dedicated to creating drug discount management solutions to manufacturers, providers, and payers across the board.