VCs back Celleron spinout with €37M to develop former Roche asset for rare joint disorder

A European VC syndicate shared Celleron’s belief that a single-asset start-up was the best place to develop emactuzumab, an asset the U.K. biotech obtained after Roche deprioritized it in 2018.

The group supplied €37 million ($43.9 million) to launch SynOx Therapeutics Ltd., which intends to conduct a pivotal study of the mAb targeting CSF1R to treat tenosynovial giant cell tumors (TGCT), a rare non-cancerous, non-metastatic disorder that affects the joints...