California-based gene therapy company 4D Molecular Therapeutics (4DMT), which is focused on adeno-associated virus (AAV) gene therapy vector discovery and product development, has raised $70 million through a Series C financing round.
The Series C financing round was led by Viking Global Investors. It also saw participation from new investors such as Amzak Health, Casdin Capital, Cystic Fibrosis Foundation, Octagon Investments, Longevity Vision Fund, MiraeAsset Financial Group, and QUAD Investment Management.
Existing investors also took part in the financing, which includes Arrowmark Partners, Berkeley Catalyst Fund, BVF Partners, Pappas Capital & Chiesi Ventures, Ridgeback Capital Investments, Perceptive Advisors, and Pfizer Ventures.
4D Molecular Therapeutics will use the proceeds from the Series C funding round to advance three of its precision-guided AAV gene therapy product candidates through initial clinical proof-of-concept in patients. It will also use the new capital to advance its product pipeline and next-generation Therapeutic Vector Evolution platform and for the expansion of its internal GMP manufacturing capabilities.
This year, the gene therapy company anticipates launching clinical trials for 4D-310, its 100% owned product candidate for the treatment of Fabry disease, and a couple of ophthalmology product candidates – 4D-125 for the treatment of X-linked retinitis pigmentosa (XLRP), a 100% owned candidate subject to an exclusive option for Swiss pharma giant Roche to develop and commercialize, and 4D-110, a candidate for the treatment of choroideremia and which is licensed to the same company.
4D Molecular Therapeutics said the new funding will also be used for supporting its preclinical product pipeline and platform, which includes IND-enabling studies for 4D-710, its fully-owned product candidate for the aerosol treatment of cystic fibrosis lung disease and the advancement of 100% owned product candidates in neuromuscular diseases and ophthalmology for rare and also large markets.
David Kirn – co-founder, chairman and CEO of 4D Molecular Therapeutics, commenting on the Series C financing round, said: “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.
“We are privileged to be supported by such high caliber life science investors who share our vision.”
Evercore was the sole financial advisor for 4D Molecular Therapeutics, while Latham & Watkins was the legal counsel for the funding round.
In September 2018, the gene therapy company raised $90 million through a Series B financing round, which was also led by Viking Global Investors.