The Children's Hospital of Philadelphia (CHOP), currently holding one million shares of West Philadelphia-based Spark Therapeutics, recently announced plans to offer shares via Spark’s public offering and parlay its investment into growth and product development.
Following the sale, CHOP will hold approximately 7.9 million shares. Spark previously disclosed its public offering of two million primary shares at the per-share price of $47.
Spark Therapeutics is a leader in the gene therapy field. The company strives to transform the lives of patients suffering from debilitating genetic diseases by developing potential one-time, life-altering treatments. Its primary focus is on treating rare diseases where no -- or only palliative -- therapies exist. Spark recently released findings at the American Academy of Ophthalmology 2015 Annual Meeting in Las Vega, Nevada, regarding advances in blindness intervention.
The Children's Hospital of Philadelphia, founded as the first pediatric hospital in the nation in 1855, has developed a reputation for family-centered care and dedication to public service. The 535-bed facility has also gained recognition as an advocate on behalf of children and adolescents.
CHOP continues its mission to provide superlative care alongside its legacy of research and commitment to ensure future generations of best-in-class pediatric practitioners. The hospital receives more funding from the National Institutes of Health than any other children’s hospital in the nation.
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