Syncona backs pair of gene therapy start-ups

Syncona Ltd. (LSE:SYNC) launched SwanBio Therapeutics Ltd. (Boston, Mass.) and Orbit Biomedical Ltd. (Philadelphia, Pa.), a pair of gene therapy newcos for CNS and retinal disorders, respectively.

The U.K. investment firm provided $23 million of SwanBio's $25 million series A round for a 72% stake. Partners Innovation Fund provided the balance (see BioCentury, June 13). ...