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Meet the $172.5 million biotech IPO from the U.K. with big plans to grow in the Bay Area

Ron Leuty
American City Business Journals
Meet the $172.5 million biotech IPO from the U.K. with big plans to grow in the Bay Area

Orchard Rx Ltd., a London-based gene therapy company targeting "bubble boy" disease and other rare genetic conditions, wants to raise $172.5 million through an initial public offering that in part will bankroll a key Bay Area expansion. Orchard, whose shareholders include drug giant GlaxoSmithKline plc (NYSE: GSK), is the latest biotech company to take advantage of Wall Street's open cash window. It filed its IPO plans Thursday, less than two months after raising $148 million in an oversubscribed Series C round.