Market Overview

4D Molecular Therapeutics Raises $90 Million Series B Financing

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- Proceeds advance proprietary next-generation Therapeutic Vector
Evolution platform and pipeline of AAV gene therapy clinical candidates -

- Lead product candidate 4D-110 in Choroideremia to enter clinic in
2019 -

- Financing led by Viking Global Investors -

4D Molecular Therapeutics (4DMT), a world-leader in Therapeutic Vector
Evolution for adeno-associated virus (AAV) gene therapy vector discovery
and product development announced the closing of its $90 million Series
B Financing. The round was led by Viking Global Investors, with
participation from ArrowMark Partners, Janus Henderson Investors, The
Biotechnology Value Fund, MiraeAsset Financial Group, Pappas Capital &
Chiesi Ventures, Pfizer Ventures, Perceptive Advisors, Ridgeback Capital
Investments, CureDuchenne Ventures and Berkeley Catalyst Fund. The
proceeds from this financing will be used to advance its proprietary
Therapeutic Vector Evolution platform and pipeline of next-generation
AAV gene therapeutics. The company's lead intravitreally-delivered AAV
gene therapy asset for choroideremia is expected to enter clinical
trials in 2019.

4DMT focuses on the discovery and development of targeted, customized
and proprietary next-generation AAV gene therapy products for use in
patients with severe genetic diseases with high unmet medical need.
Therapeutic Vector Evolution empowers 4DMT to create customized gene
therapy products to deliver genes specifically to any tissue or organ in
the body, by the optimal clinical route of administration for any given
disease, at lower doses and with resistance to pre-existing antibodies.

In conjunction with the Series B financing, Tony Yao of ArrowMark
Partners has joined the 4DMT Board of Directors alongside existing
directors David Kirn M.D., David Schaeffer Ph.D., Hoyoung Huh M.D.,
Ph.D., Charles P. Theuer M.D., Ph.D., and Margi McLoughlin Ph.D.

"4DMT is dedicated to creating highly effective AAV gene therapy
products to cure patients with severe genetic diseases. 4DMT's
next-generation Therapeutic Vector Evolution platform generates
targeted, optimized and proprietary AAV vectors that have the potential
to overcome the delivery and immunological challenges currently facing
the field, and to ultimately unlock the full potential of gene therapy,"
said David Kirn, chairman and chief executive officer of 4DMT. "We are
privileged to be supported by such high caliber life science investors
who share in our vision, and we're excited to have Tony's expertise
added to the board of directors."

"Gene therapy is an important therapeutic modality to treat severe
genetic diseases, and I believe 4DMT's Therapeutic Vector Evolution
platform will deliver gene therapeutics with significant clinical
advantages over competitive programs. David and his team have extensive
experience in viral vector technologies and strategically growing
companies. It is my pleasure to join such a talented team and exciting
opportunity," said Tony Yao, portfolio manager of ArrowMark Partners.

Evercore served as sole financial advisor to 4D Molecular Therapeutics
in connection with this offering. Latham Watkins provided legal counsel.

About 4D Molecular Therapeutics (4DMT)

4DMT is focused on the discovery and development of targeted, customized
and proprietary next-generation AAV gene therapy products for use in
patients with severe genetic diseases with high unmet medical need. Our
robust discovery platform, termed Therapeutic Vector Evolution, empowers
us to create customized gene delivery vehicles to deliver genes
specifically to any tissue or organ in the body, by optimal clinical
routes of administration, at lower doses and with resistance to
pre-existing antibodies. These proprietary and targeted products allow
us to treat both rare genetic diseases and complex large market
diseases. 4DMT is creating a diverse and deep product pipeline through
its own internal 4D products, as well as partnered programs.

About 4DMT's Therapeutic Vector Evolution

4DMT is advancing the field of targeted and optimized AAV vector
technology by deploying principles of evolution and natural selection to
create vectors that efficiently and selectively target the desired cells
within the diseased human organ via clinically optimal routes of
administration, at manageable doses and with resistance to pre-existing
antibodies in the population. Our Therapeutic Vector Evolution platform
deploys over 100 million unique AAV variants from over 35 unique and
proprietary 4DMT AAV libraries with extensive diversity. After defining
the Target Product Profile, and the associated Target Vector Profile,
4DMT then applies proprietary methods to identify lead vectors from
within our AAV libraries. The result is a customized, novel, and
proprietary pharmaceutical-grade product uniquely designed for targeted
therapeutic gene delivery and efficacy in humans.

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