Syncona Investment Management Ltd of the UK has launched two new gene therapy companies to complement its existing portfolio which includes Nightstar Therapeutics Plc and Freeline Therapeutics Ltd.
The new companies, in which Syncona is the sole institutional investor, are Orbit BioMedical Ltd, a surgical platform company and SwanBio Therapeutics Ltd, a gene therapy company focused on neurological disorders. Syncona, formerly part of the Wellcome Trust, has invested $12 million in Orbit for an 80% stake, and $23 million in SwanBio for a 72% stake.