VC-backed Orchard Therapeutics goes public


Orchard Therapeutics, a gene therapy developer, has raised $200 million for its IPO after pricing its 14.3 shares at $14 per share. The stock began trading October 31, 2018 on the NASDAQ under the ticker symbol “ORTX.” J.P. Morgan, Goldman Sachs and Cowen are the lead underwriters. Orchard’s pre-IPO backers include Baillie Gifford, ORI Capital, Temasek and Cowen Healthcare.

PRESS RELEASE

BOSTON and LONDON, Oct. 30, 2018 (GLOBE NEWSWIRE) — Orchard Therapeutics plc (Nasdaq:ORTX), a biopharmaceutical company dedicated to transforming the lives of patients with serious and life-threatening rare diseases through autologous ex vivo gene therapies, today announced the pricing of its initial public offering in the United States of 14,285,715 American Depositary Shares (“ADSs”) representing 14,285,715 ordinary shares at an initial public offering price of $14.00 per ADS, before underwriting discounts and commissions. In addition, Orchard has granted the underwriters a 30-day option to purchase up to an additional 2,142,857 ADSs at the initial public offering price, less the underwriting discounts and commissions. Orchard’s ADSs are expected to begin trading on The Nasdaq Global Select Market on October 31, 2018, under the ticker symbol “ORTX.” Each of the ADSs are being offered by Orchard. The gross proceeds of the offering, before deducting underwriting discounts and commissions and other offering expenses payable by Orchard, are expected to be $200.00 million, excluding any exercise of the underwriters’ option to purchase additional ADSs. The offering is expected to close on November 2, 2018, subject to the satisfaction of customary closing conditions.

J.P. Morgan, Goldman Sachs & Co. LLC and Cowen are acting as joint book-running managers for the offering, and Wedbush PacGrow is acting as co-manager.

Registration statements relating to the ADSs being sold in this offering have been filed with the Securities and Exchange Commission and became effective on October 30, 2018. The offering is being made only by means of a prospectus. Copies of the final prospectus may be obtained, when available, from J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: (866) 803-9204, or by emailing [email protected]; Goldman Sachs & Co. LLC, Attn: Prospectus Department, 200 West Street, New York, New York 10282, telephone: 866-471-2526, facsimile: 212-902-9316, e-mail: [email protected] or Cowen and Company, LLC, c/o Broadridge Financial Services, 1155 Long Island Avenue, Edgewood, New York 11717, Attention: Prospectus Department, or by email at [email protected]

This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

About Orchard Therapeutics
Orchard Therapeutics is a fully integrated commercial-stage biopharmaceutical company dedicated to transforming the lives of patients with serious and life-threatening rare diseases through innovative gene therapies. Orchard’s advanced portfolio of autologous ex vivo gene therapies targets serious and life-threatening rare diseases, initially primary immune deficiencies, neurometabolic disorders and hemoglobinopathies.

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