Graphite Bio raises $150 million for next-gen gene editing therapies

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Graphite Bio, a San Francisco-based next-generation gene editing company that focuses on treating chronic diseases, has reportedly announced that it has secured funds worth $150 million through a Series B Funding round led by RA Capital Management and Rock Springs Capital.

Speculations have it that the company will make use of these funds to expand and develop its pipeline of investigational, high efficacy, targeted gene integration therapies with therapeutic potential for serious and chronic diseases.

It has been reported that the company has already received an IND clearance from the U.S Food and Drug Administration to commence its first phase ½ clinical trial for investigational candidate GPH101 in sickle cell ailment. Besides, the company is also implementing its IND-enabling studies to develop investigational therapies GPH201 as well as GPH301 for serious combined immune deficiency along with IL2RG deficiency.

Graphite Bio CEO, Josh Lehrer, M.Phil., MD, stated that the company is thrilled to receive such immense support from these world-class investors who share their ambitious goals and vision. Lehrer also stated that this milestone is likely to provide a proper validation for its highly differentiated gene editing platform, which allows the company to advance its portfolio through initial clinical milestones.

RA Capital Management partner, Jake Simson, stated that the firm believes that Graphite Bio’s integration approach is the next-generation of gene editing, and RA Capital is excited about the potential the platform holds for an expansive range of diseases.

Simson also added that the progression of Graphite’s programs, leadership team’s exceptional track record in driving programs, and broad therapeutic potential of the platform has motivated the team to fund the development of Graphite Bio’s pipeline.

Meanwhile, Dave Gardner, from Rock Springs Capital, stated that the company is highly confident of Graphite Bio’s ability to make use of its differentiated gene integration approach to render a positive impact on patients across a wide gamut of diseases.

Source credit: https://www.businesswire.com/news/home/20210315005100/en/Graphite-Bio-Secures-150-Million-Series-B-Financing-to-Advance-Pipeline-of-Next-Generation-Gene-Editing-Therapies