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CHOP spins off Spark Therapeutics, launches with $50mm Series A round
28 May 2014
Executive Summary
Children’s Hospital of Philadelphia (CHOP)’s Center for Cellular & Molecular Therapeutics (CCMT) spun out Spark Therapeutics LLC, which will pursue gene therapies advanced by CHOP in ophthalmic, neurodegenerative, and blood diseases. CHOP, which retains majority ownership of Spark, committed $50mm in Series A financing to the start-up over the next several years on an as-needed basis. CHOP invested an initial $10mm.
Deal Industry
- Pharmaceuticals
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Pharmaceuticals
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Drug Delivery
- Macromolecule
- Site Specific
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Drug Delivery
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Biotechnology
- Gene Therapy, Cell Therapy
- Large Molecule
Deal Status
- Final
Deal Type
-
Financing
- Spin-Off
- Venture Financing
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