Homology Medicines, Inc., a Bedford, Mass.-based genetic medicines company translating proprietary gene editing and gene therapy technologies into novel treatments for patients, closed an $83.5m Series B financing.
The round was led by Deerfield Management with participation from new investors Fidelity Management and Research Company, HBM Healthcare Investments, Maverick Ventures, Novartis, Rock Springs Capital, Vida Ventures, Vivo Capital and Alexandria Venture Investments and existing investors 5AM Ventures, ARCH Venture Partners and Temasek. In conjunction with the financing, Homology has appointed Cam Wheeler and Mahendra Shah, Ph.D., Managing Director at Vivo Capital, to its Board of Directors.
The company, which has raised $127m since launching in 2016, intends to use the funds to advance its lead development candidate that is currently in preclinical IND-enabling studies for an inborn error of metabolism disease and to progress AMEnDR™ (AAV-Mediated Editing by Direct Homologous Recombination) technology into the clinic for rare genetic diseases.
Led by Arthur Tzianabos, Ph.D., Chief Executive Officer, Homology Medicines translates proprietary gene editing and gene therapy technologies into novel treatments for patients with rare diseases. Its AMEnDR is a broadly applicable platform that enables highly efficient homologous recombination-based in vivo genomic correction of disease mutations or precise insertion of therapeutic sequences. It does not use exogenous nucleases or promoters.