California-based gene therapy firm, 4D Molecular Therapeutics (4DMT) has raised $90 million in a Series B financing round, as it takes its lead program to clinical trial in 2019.
The company focuses on therapies for adeno-associated viruses (AAV). Funds from the financing advance clinically testing 4DMT’s gene therapies. Its proprietary Therapeutic Vector Evolution platform and pipeline of next-generation AAV gene therapeutics.
The company’s lead program, which is at investigational new drug (IND) status, is an intravitreally-delivered AAV gene therapy for the treatment of choroideremia, an inherited condition typified by progressive vision loss, particularly in men.
4DMT chairman and Chief Executive Officer, David Kim 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.”
The financing round was led by Viking Global Investors, and other participants were ArrowMark Partners, Janus Henderson Investors, The Biotechnology Value Fund, MiraeAsset Financial Group, Pappas Capital and Chiesi Ventures, Pfizer Ventures, Perceptive Advisors, Ridgeback Capital Investments, CureDuchenne Ventures and Berkeley Catalyst Fund.
According to the company, 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. Their Therapeutic Vector Evolution platform deploys over 100 million unique AAV variants from over 35 unique and proprietary 4DMT AAV libraries with extensive diversity.
4DMT is one of many healthcare startups revolutionizing treatment using localized delivery of gene therapies. BioCardia, co-founded by renowned cardiologist Simon Stertzer is another example of an innovative company using targeted delivery of stem cell therapies to treat heart failure.
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