CIC makes investment in Gyroscope Therapeutics

Gyroscope Therapeutics has dosed its first patient in Phase I/II study in dry AMD

7 March 2019

Cambridge Innovation Capital plc (CIC), the Cambridge-based venture capital investor in IP-rich technology and life science businesses, has made an investment in Gyroscope Therapeutics (Gyroscope). Gyroscope is developing cutting edge, genetically defined therapies for the treatment of eye diseases linked to an unbalanced complement system, which is a part of the immune system.

A significant portion of the founding intellectual property of Gyroscope came from the work of the laboratory of Professor Sir Peter Lachmann at the University of Cambridge. This was developed, licensed and invested in by Cambridge Enterprise, the commercialisation arm of the University.

As well as Professor Lachmann’s work, Gyroscope further leveraged the research of David Kavanagh from Newcastle University and Andrew Lotery at the University of Southampton to identify the patient population that would benefit from Gyroscope’s products.

Gyroscope recently announced that the first patient had been successfully dosed in a Phase I/II clinical trial to assess the safety and biological activity of Gyroscope’s lead product, GT0005, which uses a novel therapeutic approach in dry age-related macular degeneration (AMD). This approach leverages knowledge of the genetic factors associated with advanced AMD and the biology of the inflammation that drives progression of the disease. Gyroscope’s gene therapy and surgical platform delivers an endogenous anti-inflammatory protein to the retina of patients. The goal is to develop a one-time treatment for the disease.

AMD is one of the leading causes of blindness. By the year 2020, an estimated 196 million people globally will have AMD and 11 million will have significant vision loss. Dry AMD, which is the most common form of AMD, is a slow deterioration of the cells of the macula which can lead to irreversible loss of visual function and eventual blindness. There are currently no approved treatments for dry AMD.

Dr Robert Tansley, Operating Partner at CIC, said, “The team at Gyroscope has developed an exciting and pioneering approach which aims to tackle a range of eye diseases with significant unmet medical need. While the clinical studies are very early stage and the treatment route is novel, the potential for these therapies, if successful, is enormous. As such, Gyroscope represents a great addition to the CIC portfolio and we look forward to supporting Soraya and her team as the business grows and develops.”

Dr Soraya Bekkali, Chief Executive Officer of Gyroscope Therapeutics, explained “Our goal at Gyroscope is to advance new therapies for the treatment of debilitating eye diseases such as age-related macular degeneration. Building on the research of Gyroscope’s scientific founders, we have been working relentlessly over the last two years to advance our first drug development programme into the clinic. We are delighted to have dosed the first patient in the FOCUS study. We believe this is a great step forward in developing a therapy to treat dry AMD, while we continue our efforts to expand our clinical programmes internationally.”

ENDS

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About Cambridge Innovation Capital

CIC combines a unique relationship with the University of Cambridge with deep financial and industry links to support rapidly growing intellectual property rich companies in the Cambridge Cluster. The company is committed to building leading businesses from brilliant technologies, with the benefit of some of the most influential figures in the sector and a patient capital structure.

For more information please visit www.cicplc.co.uk or follow us on Twitter at @CambsInnovation

About Gyroscope Therapeutics

Gyroscope Therapeutics is developing cutting edge, genetically defined therapies for the treatment of eye diseases linked to an unbalanced complement system, a part of the immune system. The Company was founded to capitalise on a convergence of advancements made in the understanding of the complement system’s impact on eye disease, the genetic basis of Age-related Macular Degeneration (AMD) and gene therapy as a mode of treatment delivery.

Gyroscope’s lead product, GT005 (the FOCUS study), is a novel retinal gene therapy aimed at delivering a targeted, one-time treatment to genetically defined patients with advanced dry AMD. GT005 aims to restore the balance of a complement system known to be hyperactivated in AMD. An account of thisground-breaking treatment was the subject of a recent BBC News broadcast.

Beyond GT005, Gyroscope is building a pipeline of gene therapy products for the treatment of eye diseases with high unmet medical need.

Gyroscope is a private company headquartered in Stevenage, UK and is supported by experts in complement biology, AMD and gene therapy. Investors include Syncona Ltd., Cambridge Enterprise and Cambridge Innovation Capital. Further information can be found at www.gyroscopetx.com

About Cambridge Enterprise
A wholly owned subsidiary of the University of Cambridge, Cambridge Enterprise Limited is responsible for the commercialisation of University intellectual property. It provides access to early stage capital through the Cambridge Enterprise Seed Funds, University of Cambridge Enterprise Funds and Cambridge Enterprise Venture Partners, and offers business planning, mentoring and related programmes. Activities include management and licensing of intellectual property and patents, proof of concept funding and support for University staff and research groups wishing to provide expert advice or facilities to public and private sector organisations. For more information, please visit: www.enterprise.cam.ac.uk