G2 Bio Companies Launch with US$200 Million to Develop Transformative Genetic-Based Therapies
- Partnership between University of Pennsylvania Gene Therapy Program, James Wilson, M.D., Ph.D., Tachi Yamada, M.D., and Temasek
- US$200 million financing commitment from Temasek to fund development of next-generation gene therapy companies with Penn’s Gene Therapy Program
PHILADELPHIA, May 18, 2021 (GLOBE NEWSWIRE) -- The G2 Bio Companies (G2 Bio Management Company, Inc., and affiliates) launched today with a US$200 million investment commitment from Temasek to accelerate the development of transformative genetic-based therapies. The G2 Bio Companies were founded by the University of Pennsylvania Gene Therapy Program, James Wilson, M.D., Ph.D., Tachi Yamada, M.D. and Temasek, a global investment firm headquartered in Singapore.
Dr. Wilson is Director, Gene Therapy Program; Rose H. Weiss Professor and Director, Orphan Disease Center; and Professor of Medicine and Pediatrics, Department of Medicine at the Perelman School of Medicine at the University of Pennsylvania. Dr. Wilson’s laboratory has made seminal contributions to the technology of gene transfer and has paved the way for translation of these technologies into the clinic. He has published over 600 papers and is named on over 200 patents worldwide.
“Our mission at the Gene Therapy Program is to discover, translate and greatly accelerate the development and commercialization of life-transformative genetic-based therapeutics. The G2 Bio Companies will leverage the Gene Therapy Program’s capabilities and its deep history in advancing the field of genetic therapeutics to reach more patients in need around the world, including those with more common, non-monogenic diseases,” said Dr. Wilson.
Dr. Yamada is a founder of numerous start-up companies, including Phathom Pharmaceuticals and Passage Bio, and has served as Chief Medical and Scientific Officer at Takeda Pharmaceuticals and as Chairman of Research and Development at GlaxoSmithKline.
“We formed the G2 Bio Companies to address the unmet needs of patients with the most advanced genetic-based therapies,” said Dr. Yamada. “I am excited to partner with Dr. Wilson and Temasek. Temasek’s history of impactful investments in life sciences and healthcare globally, and unique presence in Asia, ensures they will be a valued partner and long-term collaborator for the G2 Bio Companies.”
About the G2 Bio Companies
The G2 Bio Companies were founded in 2021 to fund and develop potential next-generation gene therapy candidates from the University of Pennsylvania Gene Therapy Program. The companies are based in Philadelphia, PA.
Temasek is an investment company with a net portfolio value of S$306 billion (US$214 billion) as of March 31, 2020. Its three roles as an Investor, Institution and Steward, as defined in the Temasek Charter, shape Temasek’s ethos to do well, do right and do good. Temasek actively seeks sustainable solutions to address present and future challenges, through investment and other opportunities that help to bring about a better, smarter and more sustainable world. For more information on Temasek, please visit www.temasek.com.sg.
About University of Pennsylvania Gene Therapy Program
Penn’s Gene Therapy Program manages a portfolio of approximately 50 diseases and dozens of translational research projects using a variety of cutting-edge technologies, including gene therapy, gene editing, and mRNA therapeutic approaches using adeno-associated viruses or lipid nanoparticles. Its nearly 300-person research team engages in drug development research for the treatment of rare or orphan diseases, as well as acquired and pandemic infectious diseases.
For further information, please contact:
Stern Investor Relations, Inc.
Public Affairs, Temasek
+65 6828 2465
Financial disclosure: The University of Pennsylvania and Dr. Wilson hold equity interests in the G2 Bio Companies, and will be entitled to receive licensing revenues based on successful technology development and commercialization.