Homology Medicines raises $83.5mm in Series B round

Homology Medicines Inc. (gene editing and gene therapy technologies) raised $83.5mm in its Series B financing round led by Deerfield Management. New investors Fidelity Management and Research, HBM Healthcare Investments, Maverick Ventures, Novartis AG, Rock Springs Capital, Vida Ventures, Vivo Capital (also adds a board seat), and Alexandria Venture Investments joined repeat backers 5AM Ventures, ARCH Venture Partners, and Temasek. The company previously raised $44mm in a Series A round back in May 2016. Homology expects to use the proceeds to advance its lead candidate (currently in preclinical IND-enabling studies for an inborn error of metabolism disease) and to support continued work on its AMEnDR (AAV-Mediated Editing by Direct Homologous Recombination) technology for rare genetic diseases.