Syncona founds Purespring with a £45m Series A Financing

Syncona Ltd, a leading healthcare company focused on founding, building and funding a portfolio of global leaders in life science, announced on November 19th the foundation of a new Syncona company, Purespring Therapeutics (Purespring), with a £45.0 million Series A financing. Syncona’s holding value in Purespring is £3.9 million following the investment of the first tranche of the Series A commitment and, at the point all current commitments are invested, Syncona will have an 84 per cent stake in the business. Purespring is one of the first AAV gene therapy companies focused on the kidney. It has been founded around the seminal work of Professor Moin Saleem, Professor of Paediatric Renal Medicine at the University of Bristol, where he heads a world leading group researching glomerular diseases. Purespring will seek to advance gene therapies for the treatment of chronic renal diseases that are currently poorly addressed with existing treatments.

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