LONDON (Alliance News) - Healthcare company Syncona Ltd said Monday it has established a new cell therapy company, Quell Therapeutics, with GBP35 million financing commitment.
Syncona has committed GBP34.0 million - with the first tranche of GBP8.3 million paid in March - and a further GBP1.0 million being contributed by UCL Technology Fund. Syncona will have a 69.3% stake in Quell Therapeutics.
Quell has been established with the aim of developing engineered T regulatory cell, or Tregs, therapies. Tregs are a subset of T cells with the potential to downregulate the immune system, Syncona said. It added that Quell will seek to utilise the power of Treg cells to advance therapies for the management and treatment of a range of conditions such as solid organ transplant rejection, autoimmune and inflammatory diseases.
Quell has been founded in partnership with six experts in Treg cells, cell engineering, solid organ transplantation, and autoimmune diseases from King's College London, University College London, and Hannover Medical School.
Syncona Chief Executive Martin Murphy will become chair of Quell, whilst Elisa Petris and Freddie Dear, Syncona Partners, will be director and observer on the board, respectively.
Shares in Syncona were trading 1.2% higher at 251.00 pence each on Monday morning.
Syncona (SYNC)