US-based gene therapy developer 4D Molecular Therapeutics (4DMT) closed a $90m series B round yesterday backed by pharmaceutical firms Chiesi Group and Pfizer.

Hedge fund Viking Global Investors led the round, which included CureDuchenne, Berkeley Catalyst Fund, ArrowMark Partners, Janus Henderson Investors, Biotechnology Value Fund, MiraeAsset Financial Group, Perceptive Advisors and Ridgeback Capital Investments.

The corporates contributed through respective investment vehicles Pfizer Ventures and Chiesi Ventures, the latter managed by Pappas Capital, while non-profit organisation CureDuchenne invested through its CureDuchenne Ventures unit.

4DMT is developing customised gene therapies that can be specifically delivered to any tissue or organ in the human body while also requiring a lower dose than alternative treatments and circumventing resistance to pre-existing antibodies.

The company focuses on severe genetic diseases with a high unmet clinical need, and its lead candidate targets choroideremia, a condition primarily affecting men that leads to vision loss. It was spun out of University of California (UC) Berkeley in 2013.

The funding will be used to further develop 4DMT’s drug discovery platform and advance its pipeline of therapeutics, with a treatment for choroideremia slated to enter clinical trials in 2019. Tony Yao, portfolio manager at ArrowMark Partners, has joined its board of directors.

4DMT had previously received $7m and $11.6m in equity funding across two rounds that both closed in 2015, according to a regulatory filing. Evercore was financial adviser to the company for the round while Latham Watkins was legal adviser.

4D Molecular Therapeutics (4DMT), a US-based gene therapy spinout of University of California (UC) Berkeley, closed a $90m series B round yesterday featuring university venture fund Berkeley Catalyst Fund.
Pharmaceutical firms Chiesi Group and Pfizer and muscular dystrophy-focused non-profit CureDuchenne participated in the round through respective investment units Chiesi Ventures, which is managed by Pappas Capital, Pfizer Ventures and CureDuchenne Ventures.
Hedge fund Viking Global Investors led the round, which further included ArrowMark Partners, Janus Henderson Investors, Biotechnology Value Fund, MiraeAsset Financial Group, Perceptive Advisors and Ridgeback Capital Investments.
Founded in 2013, 4DMT is developing customised gene therapies that can be specifically delivered to any tissue or organ in the human body while requiring a lower dose than alternative treatments and circumventing resistance to pre-existing antibodies.
The spinout focuses on severe genetic diseases with a high unmet clinical need, with its lead candidate targeting choroideremia, a condition that leads to vision loss and primarily affects men.
4DMT is based on research by co-founder and chief scientific officer David Schaffer, professor of chemical and biomolecular engineering, bioengineering and neuroscience at UC Berkeley, where he also serves as director of the Berkeley Stem Cell Center.
4DMT will use the money to further develop its platform and advance its pipeline of therapeutics, including moving its treatment for choroideremia into the clinic in 2019. Tony Yao, portfolio manager at ArrowMark Partners, has joined the board of directors.
4DMT had previously received $7m and $11.6m in equity funding across two rounds that both closed in 2015, according to regulatory filings.
– A version of this article first appeared on our sister site, Global Corporate Venturing.