Syncona Ltd - London-based investment company - Invests more into OMass Therapeutics, an Oxford University biotechnology spin-out. After the new GBP15 million investment, Syncona now holds a 31% stake worth GBP44 million in the developer of small molecule drugs. The GBP15 million is part of an oversubscribed GBP75.5 million second round of funding for OMass, which now has raised GBP119 million in total.
"We are pleased with this financing round which will support OMass as it looks to progress its pipeline of small molecule drugs," comments OMass Chair Edward Hodgkin in a press release. OMass produces drugs that treat rare diseases and immunological conditions.
Current Syncona stock price: 170.20 pence, up 1.7% on Thursday
12-month change: down 25%
By Tom Budszus; tombudszus@alliancenews.com
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Syncona (SYNC)