4D Molecular Therapeutics Raises $90 Million Series B Financing
EMERYVILLE, Calif.--(BUSINESS WIRE)-- 4D Molecular Therapeutics (4DMT), a world-leader in Therapeutic Vector Evolution for adeno-associated virus (AAV) gene therapy vector discovery and product development announced the closing of its $90 million Series B Financing. The round was led by Viking Global Investors, with participation from ArrowMark Partners, Janus Henderson Investors, The Biotechnology Value Fund, MiraeAsset Financial Group, Pappas Capital & Chiesi Ventures, Pfizer Ventures, Perceptive Advisors, Ridgeback Capital Investments, CureDuchenne Ventures and Berkeley Catalyst Fund. The proceeds from this financing will be used to advance its proprietary Therapeutic Vector Evolution platform and pipeline of next-generation AAV gene therapeutics. The company’s lead intravitreally-delivered AAV gene therapy asset for choroideremia is expected to enter clinical trials in 2019.
4DMT focuses on the discovery and development of targeted, customized and proprietary next-generation AAV gene therapy products for use in patients with severe genetic diseases with high unmet medical need. Therapeutic Vector Evolution empowers 4DMT to create customized gene therapy products to deliver genes specifically to any tissue or organ in the body, by the optimal clinical route of administration for any given disease, at lower doses and with resistance to pre-existing antibodies.
In conjunction with the Series B financing, Tony Yao of ArrowMark Partners has joined the 4DMT Board of Directors alongside existing directors David Kirn M.D., David Schaeffer Ph.D., Hoyoung Huh M.D., Ph.D., Charles P. Theuer M.D., Ph.D., and Margi McLoughlin Ph.D.
“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,” said David Kirn, chairman and chief executive officer of 4DMT. “We are privileged to be supported by such high caliber life science investors who share in our vision, and we’re excited to have Tony’s expertise added to the board of directors.”
“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. David and his team have extensive experience in viral vector technologies and strategically growing companies. It is my pleasure to join such a talented team and exciting opportunity,” said Tony Yao, portfolio manager of ArrowMark Partners.
Evercore served as sole financial advisor to 4D Molecular Therapeutics in connection with this offering. Latham Watkins provided legal counsel.
About 4D Molecular Therapeutics (4DMT)
4DMT is focused on the discovery and development of targeted, customized and proprietary next-generation AAV gene therapy products for use in patients with severe genetic diseases with high unmet medical need. Our robust discovery platform, termed Therapeutic Vector Evolution, empowers us to create customized gene delivery vehicles to deliver genes specifically to any tissue or organ in the body, by optimal clinical routes of administration, at lower doses and with resistance to pre-existing antibodies. These proprietary and targeted products allow us to treat both rare genetic diseases and complex large market diseases. 4DMT is creating a diverse and deep product pipeline through its own internal 4D products, as well as partnered programs.
About 4DMT’s Therapeutic Vector Evolution
4DMT is advancing the field of targeted and optimized AAV vector technology by deploying principles of evolution and natural selection to create vectors that efficiently and selectively target the desired cells within the diseased human organ via clinically optimal routes of administration, at manageable doses and with resistance to pre-existing antibodies in the population. Our Therapeutic Vector Evolution platform deploys over 100 million unique AAV variants from over 35 unique and proprietary 4DMT AAV libraries with extensive diversity. After defining the Target Product Profile, and the associated Target Vector Profile, 4DMT then applies proprietary methods to identify lead vectors from within our AAV libraries. The result is a customized, novel, and proprietary pharmaceutical-grade product uniquely designed for targeted therapeutic gene delivery and efficacy in humans.
Source: 4D Molecular Therapeutics