Syncona's Purespring raises £80m in new financing

9th Oct 2024 07:21

(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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