Gene therapy developer Orchard proposes IPO

Orchard Therapeutics Ltd. (London, U.K.) proposed to raise up to $172.5 million in an IPO on NASDAQ. J.P. Morgan, Goldman Sachs, Cowen and Wedbush PacGrow are underwriters.

Orchard is developing autologous ex vivo lentiviral gene therapies to treat rare primary immune deficiencies and inherited metabolic disorders. In an April deal with GlaxoSmithKline plc (LSE:GSK; NYSE:GSK), Orchard gained the pharma's rare disease gene therapy portfolio, including Strimvelis, which is approved in Europe to treat children with severe combined immunodeficiency due to ADA deficiency (ADA-SCID) (see "Orchard Gains GSK's Rare Disease Gene Therapy Portfolio")...