|[June 23, 2014]
Dimension Therapeutics Raises $30M Financing
CAMBRIDGE, Mass. --(Business Wire)--
Therapeutics, a gene therapy company focused on developing novel
treatments for rare diseases, today announced the closing of a $30
million financing. New investor OrbiMed joined existing investor
Fidelity Biosciences in the round.
"Gene therapy has the potential to radically change the treatment
paradigm for numerous rare diseases," said Rishi Gupta, private equity
partner at OrbiMed. "Dimension's access to best-in-class AAV vector
technology puts it at the forefront of developing in vivo gene
therapy treatments, one of the most promising approaches in the field.
We look forward to working with the Dimension team to realize the
potential of gene therapy in areas of high unmet medical need."
"We are very pleased to welcome OrbiMed to our syndicate," said Ben
Auspitz, chairman of Dimension Therapeutics and a partner at Fidelity
Biosciences. "OrbiMed has helped build many start-ups with break-through
science into commercially successful healthcare companies. Rishi and the
OrbiMed team will be valuable partners and strategic advisors as we
continue to advance our novel gene therapy programs for patients with
OrbiMed is a leading inestment firm dedicated exclusively to the
healthcare sector, with approximately $11 billion in assets under
management. OrbiMed invests globally across the spectrum of healthcare
companies, from venture capital start-ups to large multinational
companies. OrbiMed's team of more than 80 employees manages a series of
private equity funds, public equity funds, royalty/debt funds and other
investment vehicles. OrbiMed maintains its headquarters in New York
City, with additional offices in San Francisco, Shanghai, Mumbai and
Herzliya. As one of the largest investment firms dedicated to the
healthcare sector, OrbiMed seeks to be a capital provider of choice,
bringing the global resources required to be an exceptional long-term
partner for building world-class healthcare companies. Find out more at www.OrbiMed.com.
About Fidelity BioSciences
Fidelity Biosciences (www.fidelitybiosciences.com)
invests venture capital in biopharmaceutical, medical technology,
healthcare information technology and healthcare service companies. The
firm is a subsidiary of FMR LLC, the parent company of Fidelity
Investments, one of the world's leading providers of financial services.
For more than 40 years, Fidelity has been a significant presence in the
venture capital and private equity industry. For more information, visit
the website above.
About Dimension Therapeutics
Dimension Therapeutics is a gene therapy company focused on developing
novel therapies to treat rare diseases. Launched by Fidelity Biosciences
in 2013, the Dimension team comprises biotech industry veterans and
renowned thought leaders in gene therapy and rare diseases. The company
is focused on building its adeno-associated virus (AAV) therapeutic
capabilities and advancing multiple gene therapy programs in rare
diseases through partnerships with REGENX Biosciences and the University
of Pennsylvania, which provide Dimension with exclusive gene therapy
intellectual property and preferred access to multiple best-in-class AAV
vectors based on REGENX's NAV® technology. For more information,
please visit www.dimensiontx.com.
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