Spark Therapeutics, a Philadelphia, PA-based late-stage company developing gene-based medicines for a wide range of rare, debilitating diseases, completed a $72.8m Series B financing.
The round was led by Sofinnova Ventures, with participation from new investors Brookside Capital, Deerfield Management Company, Rock Springs Capital, funds and accounts managed by T. Rowe Price Associates, Inc., Wellington Management Company, LLP, and two undisclosed dedicated healthcare funds. The Children’s Hospital of Philadelphia (CHOP), a co-founder of the company, also participated in the round.
The company intends to use the funds to advance its pipeline of gene therapy programs including development of its lead Phase 3 program to address RPE65-related retinal dystrophies, as well as support its growth over the next three years.
Led by Jeffrey D. Marrazzo, co-founder and CEO, Spark Therapeutics is developing curative, one-time gene therapy products for the treatment of debilitating diseases. Its lead gene therapy candidate, for RPE65-related blindness, is currently in Phase 3 clinical trials with the potential to be the first treatment for patients living with blindness due to inherited retinal dystrophies.
Additionally, the company has clinical and preclinical programs in other inherited retinal dystrophies and hematological disorders, and a proprietary manufacturing platform that has supported human gene therapy trials across diverse therapeutic areas and routes of administration.