3 Sep 2019
Financing will support continued clinical development of gene therapies and surgical delivery systems for retinal diseases
Cambridge Innovation Capital plc (CIC), the venture capital investor enabling visionaries to build global, category-leading companies in the Cambridge ecosystem, has participated in the £50.4 million Series B funding of Gyroscope Therapeutics (Gyroscope), 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 agerelated macular degeneration (dry-AMD), the leading cause of permanent vision impairment for people aged 65 and older1;
- 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.
“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.” Robert Tansley, Partner
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 beyond rare disease to help the millions of people worldwide with dry-AMD.”