ARTICLE | Financial News

CHOP hoping to Spark a happy New Year

January 1, 2015 12:24 AM UTC

The Children's Hospital of Philadelphia (CHOP) owns 53.4% of the outstanding shares of Spark Therapeutics Inc. (Philadelphia, Pa.), according to the gene therapy company's IPO filing. The research hospital spun out Spark in 2013, was the sole investor in its $10 million series A round, and invested $22.5 million of its $72.7 million series B round (see BioCentury Extra, May 27).

CHOP has provided substantial intellectual property to Spark's platform, along with IP licensed from the University of Iowa Research Foundation and the University of Pennsylvania, and will provide the initial manufacturing of clinical supplies for the biotech's gene therapy products. ...