Gyroscope Therapeutics Secures $61 Million Series B Financing to Advance Gene Therapy for Geographic Atrophy in Dry AMD

On September 4, 2019, VCBeat (WeChat ID: vcbeat) learned from foreign media reports that biotechnology company Gyroscope Therapeutics (Gyroscope) announced the completion of a $61 million Series B financing round, with investment from Syncona and Cambridge Innovation Capital (CIC).

Gyroscope Therapeutics plans to utilize the proceeds from this financing round to further advance the clinical development of its gene therapy candidate, GT005, for the treatment of dry age-related macular degeneration (dry AMD), the leading cause of permanent vision loss in individuals aged 65 and older. The company will also accelerate the development of its manufacturing platform to meet global patient demand and continue advancing its second-generation subretinal delivery system (Orbit SDS). This system will not only support Gyroscope’s own pipeline of investigational candidates but also provide services to other developers of gene and cell therapies.

Gyroscope Therapeutics is a company developing gene therapies and surgical systems for retinal diseases, headquartered in London, UK. Currently, the company is developing a portfolio of pharmaceuticals and surgical devices aimed at providing safe, precise, one-time treatments for patients with ocular diseases.

GT005 therapy is designed to restore the balance of the complement system, thereby slowing or halting the progression of dry age-related macular degeneration (AMD). Currently, this therapy is undergoing Phase 1/2 clinical trials, in which patients receive a single dose via subretinal injection. The Subretinal Delivery System (Orbit SDS) enables surgeons to access the "subretinal space" of the eye without removing the vitreous (the gel-like substance that fills the eye) or creating holes in the retina. By delivering the treatment directly to key target tissues while preserving the integrity of the vitreous and retina, the system enhances the likelihood of therapeutic success.

Dry AMD is one of the leading causes of blindness worldwide. It is estimated that in 2020, 196 million people globally will have this disease, with nearly 11 million already suffering from severe vision loss.

In the United Kingdom, it affects approximately 600,000 people. The incidence of the disease increases significantly with age; over 10% of the population aged 70 and above exhibit symptoms of AMD, characterized by progressive macular changes in the central visual field and debilitating vision loss. As the disease progresses to its atrophic form, patients find it increasingly difficult to recognize faces, drive, read, or perform other activities of daily living. It can also impair contrast sensitivity and alter color perception.

Mr. Khurem Farooq, CEO of Gyroscope Therapeutics, stated: “We thank our investors for their confidence and commitment. Our investigational candidates, GT005 and Orbit SDS, are currently in early-stage clinical development. This funding will enable us to collect and analyze the necessary safety data, proceed to larger-scale clinical trials, and ultimately bring these products to market.”

CIC is a UK-based venture capital firm with strong ties to the University of Cambridge in finance and business. The company focuses on investing in IP-rich technology and life sciences companies within the Cambridge ecosystem.

Syncona Partners is a UK-headquartered investment company primarily focused on the healthcare sector.

(Compiled by Tian Shuhang)