23rd Apr 2020 11:01
(Alliance News) - Healthcare-focused investment firm Syncona Ltd said Thursday it has made a USD51.0 million investment into neurological disorder-focused gene therapy company SwanBio Therapeutics.
The investment is part of a USD77.0 million Series A financing into SwanBio, and will take Syncona's total commitment to the business to USD74.0 million.
The Series A financing will allow SwanBio to develop a scalable manufacturing process for commercial progress its lead programme, build out a pipeline of indications and expand its leadership team.
Syncona has a 79% ownership stake in SwanBio at the point full commitments are invested.
"In the last seven years, Syncona has developed a leading platform of gene therapy companies, each of which is built around world-class academics, a cornerstone programme addressing a high medical need and a commercial manufacturing and delivery platform that is then leveraged to a differentiated and synergistic pipeline of products," said Chief Investment Officer Chris Hollowood.
"SwanBio is a fantastic example of this strategy in action. This financing, which is Syncona's largest Series A to date, demonstrates our belief that we have a differentiated opportunity to build a world-class company, targeting neuro-degenerative diseases where there are no current treatments available," Hollowood added.
Shares in Syncona were down 1.5% at 202.00 pence on Thursday in London.
By Dayo Laniyan; [email protected]
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