Gyroscope Therapeutics, headquartered in Ambler, has raised a $62.2 million (£50.4 million) Series B financing round.
The British company developing gene therapies and surgical delivery systems for retinal diseases plans to use the round to continue to advance:
- The clinical development of the company’s investigational gene therapy GT005 for dryage-related macular degeneration (dry-AMD), the leading cause of permanent vision impairment for people aged 65 and older.
- The manufacturing platform to meet patient need worldwide.
- A second-generation Orbit Subretinal Delivery System (SDS) to not only deliver Gyroscope’s investigational therapies, but also be licensed to other gene and cell therapy companies developing medicines.
Syncona Ltd., is investing $59 million in the Series B financing, bringing its total commitment to Gyroscope since its inception to $101 million.
Cambridge Innovation Capital will contribute $2.9 million in the Series B financing, bringing its total commitment to Gyroscope since its inception to $3.7 million.
In addition to the Series B funding, Gyroscope also added Edward Lang Jr. to the Gyroscope executive committee. Lang Jr. will serve as chief corporate affairs officer.