The family-owned German pharma dates back to 1885 and tries to keep up with its publicly traded peers by not mimicking everything they do, but with a “value by innovation” focus.

Genentech will use the X-Chem platform to obtain leads against multiple oncology targets. Lilly partners with Merus on CD3-targeting T-cell therapy candidates.

New $150m Series C round brings Orchard's tally to nearly $300m, just four months after the start-up acquired a portfolio of gene therapy candidates from GSK and eight months after a $110m round. Gritstone closed a Series C then announced an IPO filing, plus more late-summer VC rounds.