- Khurem Farooq
- Peter Lachmann
- % Shareholding
- Number of employees
- Total up front proceeds to Syncona on the completion of sale to Novartis
- Clinical trials
Shareholding taken following investment from Sanofi in November 2021. Until closing of the proposed transaction with Novartis, Gyroscope remains a Syncona Ltd portfolio company
Gyroscope is developing gene therapy beyond rare disease to treat a leading cause of blindness, Geographic Atrophy secondary to dry age-related macular degeneration (dry-AMD).
Gyroscope was founded to explore the convergence of advancements made in the understanding of the complement system’s impact on eye disease, the genetic basis of dry AMD and gene therapy as a mode of sustained treatment delivery. Gyroscope’s gene therapy seeks to treat dry AMD by delivering the target protein in a safe and effective manner using Adeno-Associated Virus (AAV) technology.
AMD, a retinal disease, is the leading cause of irreversible blindness in people aged 50 and older. Today there is no effective treatment for the atrophic, dry, form of the disease the late stage of which is known as geographic atrophy (GA). Through their proprietary delivery system, Gyroscope also have significant surgical device development and surgeon training capabilities.
In December 2021 an agreement was reached for Novartis to acquire Gyroscope in a transaction worth up to $1.5 billion. On closing, the up front proceeds will represent a 3.0 multiple on original cost for Syncona, and 55% IRR. Including potential milestone payments, the proceeds could increase to £589 million, a 5.2 multiple on cost.
- Seeking to take application of gene therapy beyond rare diseases to treat Geographic Atrophy sub-retinally
Unmet medical need
- AMD is one of the leading causes of permanent vision impairment for people aged 65 and older with no approved treatments
- Initial population of an estimated 3.5 million people in the US & EU5 with GA, late stage dry AMD
- Highly innovative concept
- Biological link to clinical outcome
* Gyroscope analysis
The Gyroscope Therapeutics pipeline
Dry AMD - HORIZON
Dry AMD - EXPLORE
Dry AMD - FOCUS