Gyroscope Therapeutics Limited, a London, UK-based clinical-stage gene therapy company focused on treating diseases of the eye, raised USD $148.0m in Series C financing.
The round was led by Forbion’s Growth Opportunities Fund and includes Sofinnova Investments, funds and accounts advised by T. Rowe Price Associates, Inc., Tetragon Financial Group Limited, an undisclosed healthcare focused fund, Fosun Pharma, Cambridge Innovation Capital and founding investor Syncona. The company also announced the appointments of Wouter Joustra, General Partner, Forbion and Maha Katabi, General Partner, Sofinnova to the Gyroscope Board of Directors.
The company plans to use proceeds from the financing to advance the clinical development of GT005, its lead investigational gene therapy being evaluated for the treatment of geographic atrophy (GA) secondary to age-related macular degeneration (AMD). GT005 has received Fast Track designation from the U.S. Food and Drug Administration and is being evaluated in Phase II clinical trials in two different genetically defined patient populations with GA. These funds will also enable Gyroscope to further advance its early stage pipeline and innovative delivery technology, including its proprietary OrbitTM subretinal delivery system, which is designed for precise delivery to the back of the eye.
Led by Khurem Farooq, Chief Executive Officer, Gyroscope Therapeutics is a clinical-stage gene therapy company developing gene therapy beyond rare disease to treat diseases of the eye that cause vision loss and blindness. Its lead investigational gene therapy, GT005, is currently being evaluated in Phase II clinical trials for the treatment of geographic atrophy (GA) secondary to age-related macular degeneration (AMD), a leading cause of blindness. GT005 has received Fast Track designation from the U.S. Food and Drug Administration for the treatment of people with GA.
The company also has locations in Philadelphia and San Francisco.