SwanBio Therapeutics Announces Series A Expansion to Fund its Lead Program and Grow Pipeline in Gene
$52 million is being allocated to progress IND-enabling studies in adrenomyeloneuropathy (AMN) and grow the pipeline in rare, monogenic neurological diseases
Syncona Ltd. and Partners Innovation Fund led the Series A expansion
Plans to grow the company employee base continue in 2020
BALA CYNWYD, PA, April 23, 2020 — PRNewswire — SwanBio Therapeutics, a gene therapy company developing leading-edge medicines to deliver dramatic clinical efficacy for the treatment of AMN and other neurological diseases, today announces the successful completion of a $52 million expanded Series A financing.
Syncona Ltd. and Partners Innovation Fund have made a $20 million investment as part of a $52 million additional commitment to the Series A financing in SwanBio Therapeutics.
Chris Hollowood, Chief Investment Officer of Syncona Ltd. and Chair of SwanBio Therapeutics, said: “This financing, which is Syncona’s largest Series A to date, demonstrates our belief that we have a differentiated opportunity to build a world-class company targeting neurodegenerative diseases, where there are no current treatments available.”
The funding will help rapidly progress the understanding and development of adeno-associated virus (AAV) based gene therapies, advance manufacturing and development capabilities and allow the execution of a robust hiring plan to meet the demands of the pipeline.
“At SwanBio Therapeutics, we enjoy the confidence and support of both Syncona Ltd. and Partners Innovation Fund in achieving a focused multi-program platform in neurological diseases through what has become the most significant investment in the company to date,” said Tom Anderson, CEO and Director of SwanBio Therapeutics. “We continue to seek and develop gene therapies in neurological diseases where there is significant unmet need and where our science can make a difference in the lives of patients and their families.”