Syncona's Purespring raises £80m in new financing
By Frank Prenesti
Date: Wednesday 09 Oct 2024
(Sharecast News) - Life science investor Syncona said its portfolio company Purespring Therapeutics, which focuses on gene therapies for kidney diseases, had raised £80m in an oversubscribed financing.
Syncona has committed £19.9m as part of a syndicate, led by Sofinnova, in collaboration with Gilde Healthcare, Forbion, and British Patient Capital, the company said on Wednesday.
The latest financing brings Purespring's total fundraising to date to around £115m. Proceeds will be used to advance its therapies pipeline and support the expected initiation of a phase I/II clinical trial in 2026 for its lead programme targeting IgA Nephropathy (IgAN), a chronic kidney disease principally affecting young adults.
Reporting by Frank Prenesti for Sharecast.com
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