Syncona ups SwanBio investment – Syncona Ltd has made a $51.0m new commitment in a $77.0m expanded Series A financing by SwanBio Therapeutics.
This new commitment takes Syncona’s total commitment to this business to $74.0m. Syncona has invested $19.6m now, and the holding is now valued (at cost) at £34.3m. This expanded Series A financing will enable SwanBio to continue to develop a scalable manufacturing process for commercial supply, progress its lead programme, build out a pipeline of indications and expand its leadership team.
SwanBio is a gene therapy company focused on neurological disorders. Its lead programme is targeting the treatment of Adrenomyeloneuropathy (AMN), a genetic neuro-degenerative disease affecting the spine. This disease impacts 10,000-20,000 patients in the US and EU5 and there are currently no approved treatments. The business has made strong progress in the pre-clinical development of its lead programme, and the build out of a commercial manufacturing platform. In partnership with Syncona, the business has also undertaken an extensive exercise to identify unmet clinical needs where SwanBio is well placed to develop pipeline programmes.
Syncona has a 78.6 per cent fully diluted ownership stake at the point full current commitments are invested.
SYNC : Syncona ups SwanBio investment