bluebird bio Raises $30M

bluebird bio, a Cambridge, Mass. and Paris, France-based developer of innovative gene therapies for severe genetic disorders, raised an additional $30m in financing.
Investors include new shareholder ARCH Venture Partners, and existing backers Third Rock Ventures, TVM Capital, Forbion Capital Partners and Easton Capital Investment Group.
The company had completed a $35m Series B round in early 2010.
In conjunction with the funding, ARCH managing director Steven Gillis, Ph.D., will join bluebird bio’s board.
The company intends to use the funds to advance ongoing clinical programs and strengthen its core product platform capabilities. bluebird bio has two later stage clinical products in development for childhood cerebral adrenoleukodystrophy (CCALD) and beta-thalassemia/sickle cell anemia
Led by president and CEO Nick Leschly, the company uses stem cells harvested from the patient’s bone marrow into which a healthy version of the disease causing gene is inserted. After being grown in culture, those cells are given back to the patient.

Join the discussion