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(Sharecast News) - Life science investor Syncona said its portfolio company Purespring Therapeutics, which focuses on gene therapies for kidney diseases, had raised 80m in an oversubscribed financing.
Syncona has committed 19.9m as part of a syndicate, led by Sofinnova, in collaboration with Gilde Healthcare, Forbion, and British Patient Capital, the company said on Wednesday.
The latest financing brings Purespring's total fundraising to date to around 115m. Proceeds will be used to advance its therapies pipeline and support the expected initiation of a phase I/II clinical trial in 2026 for its lead programme targeting IgA Nephropathy (IgAN), a chronic kidney disease principally affecting young adults.
Reporting by Frank Prenesti for Sharecast.com
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