Gene therapy specialist Bluebird Bio has raised $60m in a Series D financing round, backed by UK and US-listed pharmaceutical company Shire.
Existing investors ARCH Venture Partners, Third Rock Ventures, TVM Capital, and Forbion Capital Partners all participated in the round, and were joined new investors San Francisco-based Deerfield Partners, Boston-based life science investment advisor RA Capital, New York-based investment manager Ramius Capital Group, and two undisclosed blue chip investment funds.
The close of the round raised the total venture investment in Bluebird to more than an estimated $125m. Boston-based life science investor Third Rock, Netherlands-based life science investor Forbion, Munich-based venture firm TVM, and NY-based investment group Easton Capital all participated in a $35m Series B funding in March 2010 and a $30m venture round in April 2011. They were joined by corporate venture capital fund Genzyme Ventures, the venture unit of pharmaceutical company Genzyme Corporation, and venture firm ARCH Venture Partners in the separate rounds respectively.
The Cowen Group was strategic advisor on the financing.
Proceeds will be used to advance several of the company’s on-going clinical studies into severe genetic disorders. It also plans to invest in manufacturing, clinical, and commercial infrastructure to support upcoming trials.
Nick Leschly, chief executive of Bluebird, said: “This is an exciting time for Bluebird and the milestones in the field of gene therapy. The strong support from our existing and new investors is incredible and will fuel our efforts for some time.”
Leschly added: “To have a gene therapy product platform that has the potential to provide a one-time transformative therapy for patients suffering from terrible, life threatening diseases is simply a privilege and is at the heart of what motivates and drives the Bluebird team every day.”