ARTICLE | Financial News

Homology raises $83.5M in series B round

August 1, 2017 10:53 PM UTC

Gene therapy company Homology Medicines Inc. (Lexington, Mass.) raised $83.5 million in a series B round led by Deerfield Management. Existing investors 5AM Ventures, Arch Venture Partners and Temasek participated, as well as new investors Fidelity Management & Research Company, HBM Healthcare Investments, Maverick Ventures, Novartis AG (NYSE:NVS; SIX:NOVN), Rock Springs Capital, Vida Ventures, Vivo Capital and Alexandria Venture Investments.

Homology will use the funds to develop its lead candidate to treat inborn errors of metabolism in the liver. The company plans to submit an IND for the product in 2018 or 2019, which uses Homology's gene therapy adeno-associated viral (AAV) vectors. The company is also developing its gene editing AAV vector platform called AMEnDR (AAV-Mediated Editing by Direct Homologous Recombination). CEO Arthur Tzianabos told BioCentury the company hopes to enter the clinic in 2019. He declined to disclose the specific indication...