Syncona backs Cambridge oncology spinout Azeria in £32M series B
Syncona follows an indirect investment in Azeria with a direct one
Syncona is taking a majority stake in University of Cambridge spinout Azeria by leading the company's £32 million ($41.5 million) series B round, with which the start-up hopes to bring its first FOXA1 inhibitor into the clinic.
The U.K. investment firm expects to hold a 61% stake in Azeria Therapeutics Ltd. when the tranched round is fully invested, by virtue of its £29.5 million commitment. The balance will come from the Cancer Research Technology (CRT) Pioneer Fund, which also supplied the company's £5.5 million series A round. Sixth Element Capital manages that fund; Syncona is the fund's largest investor (see "Going Big in Britain")...
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