Syncona cornerstones $148 million Series C financing in Gyroscope

26 March 2021

Life sciences investment trust Syncona (LSE: SYNC) has invested $42.3 million UK-based Gyroscope Therapeutics, a clinical-stage gene therapy company focused on diseases of the eye, in an $148.0 million (£107.8 million) Series C financing.

The financing was led by Forbion’s Growth Opportunities Fund and also brought in investment from global institutional investors including Sofinnova Investments, Tetragon Financial Group Limited, an undisclosed healthcare focused fund, Fosun Pharma and Cambridge Innovation Capital.

Following the financing, Syncona’s holding value in Gyroscope has been written up to £150.6 million, representing an uplift of £37.9 million (5.6 pence per share). Syncona's ownership stake in the business is now 54%.

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