University spin-out Gyroscope Therapeutics raises £50.4m in Series B funding

Cambridge Enterprise sister organisation Cambridge Innovation Capital (CIC) has joined in the Series B funding for Gyroscope Therapeutics, a company developing gene therapies and surgical delivery systems for retinal diseases, alongside lead investor Syncona Ltd.

With this new round of financing, Gyroscope will continue to advance:

• the clinical development of the company’s investigational gene therapy GT005 for dry age-related macular degeneration (dry-AMD), the leading cause of permanent vision impairment for people aged 65 and older;
• the manufacturing platform to meet patient need worldwide; and
• a second-generation Orbit Subretinal Delivery System to not only deliver Gyroscope’s investigational therapies, but also be licensed to other gene and cell therapy companies developing medicines.

Robert Tansley, Partner at CIC, said: “Gyroscope has unique capabilities to bring novel treatments to areas of significant unmet medical need. We are delighted to support the company as it progresses clinical trials with its lead programme GT005 and its Orbit Subretinal Delivery System, while also expanding its pipeline of innovative medicines.”

Khurem Farooq, CEO of Gyroscope, added: “We are grateful for the confidence Syncona and CIC have shown in Gyroscope as we continue to deliver on our promise to bring gene therapy beyondrare disease to help the millions of people worldwide with dry-AMD.”

A significant portion of Gyroscope’s founding intellectual property of came from the work of the laboratory of Professor Sir Peter Lachmann at the University of Cambridge. This IP was developed, licensed and invested in by Cambridge Enterprise.

 

Tags: ,