Purespring Therapeutics raises £80m in Series B funding to advance gene therapy pipeline
The financing round was led by Sofinnova Partners and will fund upcoming clinical trials for kidney disease treatments.
Share allotment filed at Companies House
Purespring Therapeutics develops novel gene therapies designed to treat various forms of kidney disease by targeting specialised renal cells.
London-based gene therapy developer Purespring Therapeutics has secured £80m in a Series B funding round led by Sofinnova Partners. The financing drew participation from a syndicate including Gilde Healthcare, Forbion, British Patient Capital, and founding backer Syncona.
Proceeds from the round will support the company's clinical pipeline, most notably the launch of a Phase I/II clinical trial for IgA Nephropathy. Purespring utilises its proprietary adeno-associated viral platform to target podocytes directly in order to address chronic renal conditions.
The capital arrives as the firm prepares to present its clinical data publicly at the upcoming American Society of Nephrology congress in San Diego.
Investor perspective
"Our investment into Purespring Therapeutics fits perfectly into our strategy to support the UK’s life sciences and is the type of UK growth company which could benefit further by unlocking the potential of institutional investment. We need to support companies like Purespring as they go through development and trials before coming to market.Providing that capital simultaneously stimulates growth and helps to solve pressing medical challenges that will deliver long-term outcomes for generations to come."
Ian Connatty
Managing Director, Direct & Co-Investment, British Patient Capital
Use of funds
- 01Fund research and development
Investors
Maina Bhaman
Sofinnova Partners
Gilde Healthcare
Forbion
Ian Connatty
British Patient Capital
Michael Kyriakides
Syncona
About the company
Purespring Therapeutics
Purespring Therapeutics develops adeno-associated viral gene therapies for renal diseases.