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Impact story: Gyroscope Therapeutics
In December 2021, portfolio company Gyroscope Therapeutics announced that it had agreed to be acquired by Novartis Pharmaceuticals, a global medicines company, for up to $1.5 billion. It was an excellent outcome for intellectual property that Cambridge Enterprise had supported since 2009, when it was first disclosed to us by Professor Sir Peter Lachmann. This IP was developed, licensed and invested in by Cambridge Enterprise. In September 2019 sister organisation Cambridge Innovation Capital (CIC) joined in the £50.4 million Series B funding for Gyroscope.
World’s first treatment for geographic atrophy
Gyroscope, which was co-founded with Syncona Investment Management in 2016, a London-listed company, had the mission to develop therapeutics against a set of eye diseases for which no meaningful treatment options existed. Gyroscope developed the world’s first treatment for geographic atrophy, an advanced form of dry age-related macular degeneration that leads to blindness.
Global leader
Gyroscope grew into a global leader in ocular gene therapies, combining discovery, research, drug development and proprietary surgical and manufacturing platforms. Its team of nearly 200 employees were executing on its Phase II clinical trials for the treatment of geographic atrophy secondary to age-related macular degeneration, having generated positive clinical data in its Phase I/II FOCUS trial.
Novartis, the acquiring company, has a strong gene therapy expertise and is committed to treating and preventing blindness. The next phase of Gyroscope’s development will be with Novartis, which is ideally placed to support this Cambridge technology to complete its journey to transform the lives of patients.
Annual Review 2022
This impact story was first published in the Cambridge Enterprise Annual Review 2022.
View our Annual Review 2022 to learn more about some of the exciting breakthroughs and innovations that we have been part of during 2021-2022.