NEW YORK – Gemma Biotherapeutics has raised $34 million in seed funding, which it will use to grow its operations and its gene therapy programs.
The funding round announced last week was co-led by Double Point Ventures, Bioluminescence Ventures, and Earlybird Venture Capital, and included participation from Savanne Life Sciences.
GemmaBio, which launched earlier this year, is cofounded and led by gene therapy pioneer James Wilson. He stepped down from his role directing the University of Pennsylvania's gene therapy program in connection with the launch of GemmaBio. Passage Bio, another firm cofounded by Wilson, licensed three gene therapy programs to GemmaBio, including the GM1 gangliosidosis gene therapy candidate PBGM01, the Krabbe disease gene therapy asset PBKR03, and the metachromatic leukodystrophy gene therapy PBML04.
Philadelphia-based GemmaBio also recently inked a collaboration with the Oswaldo Cruz Foundation, which supplies immunobiologics, biopharmaceuticals and diagnostics to the Brazilian Ministry of Health. The company said in a statement that it is actively seeking strategic partners to advance its mission to develop gene therapies.