Gyroscope Therapeutics
Established: 2016
Country: United Kingdom
Region: Stevenage
Investors: Syncona Limited, Cambridge Innovation Capital, Novartis
Gyroscope Therapeutics is pioneering one-time gene therapies to combat vision loss. Its current focus is on treatments for age-related macular degeneration, the leading cause of vision loss among older people in developed countries, estimated to affect 170m people worldwide.
With venture capital support, led by Syncona, Gyroscope merged with medical device-maker Orbit Biomedical in 2019 to become the first end-to-end company in its space1, with the capacity to develop, produce and deliver its treatments directly into the retina. With encouraging clinical trial data for its leading candidate, Gyroscope attracted investment from Sanofi2 and subsequently was acquired by Novartis for up to $1.5 billion, including $800 million upfront and $700 million in milestone payments.
$270m
in VC funding
50%
IRR delivered for Syncona on initial exit
Key achievements
Merged with Orbit Biomedical to become end-to-end provider of gene therapies to combat vision loss
Acquired by Novartis in 2021 for up to $1.5bn3
Initial exit delivered 50% IRR for Syncona and 2.9x multiple on cost, with potential to rise to 5.1x on milestone payments4
Funding history
$270m in VC funding, including $60m funding from Sanofi5
Find out more
1. https://www.gyroscopetx.com/gyroscope-therapeutics-merges-with-orbit-biomedical-creating-a-leading-retinal-gene-therapy-company/
2. https://www.synconaltd.com/news-and-insights/news/gyroscope-therapeutics-announces-sanofi-investment-of-up-to-60-million/
3. https://www.synconaltd.com/portfolio/previous-investments/gyroscope-therapeutics/
4. https://www.synconaltd.com/portfolio/previous-investments/gyroscope-therapeutics/
5. https://www.crunchbase.com/organization/gyroscope-therapeutics/company_financials
Investors
