Fundraising: Gene therapy firm targeting sickle cell anemia raises $60M

Name of Company: bluebird bio

Industry: Biotechnology

Location: Cambridge, Massachusetts

Product: Gene therapy to target sickle cell anemia, beta-thalassemiaandchildhood cerebral adrenoleukodystrophy

Money Raised: $60 million in Series D; at least $, 76 million in previous rounds based on press releases and SEC filings

How it will be used:It will fund the initiation of Phase 2/3 clinical trials of the therapy targeting childhood cerebral adrenoleukodystrophy in both U.S. and Europe in 2013. It will also support the start of a Phase 1/2 clinical trial of the therapy to treat beta-thalassemia in 2013. Further, the money will be used to invest inmanufacturing, clinical and commercialinfrastructure to support the upcoming clinical trials and pre-commercial launch activities.

Investors:The Series D round brought new investors Deerfield Partners, RA Capital, Ramius Capital Group, and two unidentified blue chip public investment funds. They were joined by existing investorsARCH Venture Partners, Third Rock Ventures, TVM Capital and Forbion Capital Partners. A strategic, investor, Shire plc also participated.

Management team: Nick Leschly, Chief Bluebird; Mitchell Finer, Chief Scientific Officer, David Davidson, Chief Medical Officer

Market size: Childhood cerebral adrenoleukodystrophy,beta-thalassemiaandsickle cell anemia affect 10 million people globally, according to the company

Competitors: uniQure

Article source: http://medcitynews.com/2012/07/fundraising-gene-therapy-firm-targeting-sickle-cell-anemia-raises-60m/