Gyroscope enters Orbit for merger

Gyroscope Therapeutics, a UK-based retinal gene therapy developer partly based on University of Cambridge research, has merged with US-based medical device manufacturer Orbit Biomedical.
The merged business will operate under the Gyroscope name and act as a fully-integrated gene therapy company with clinical, manufacturing and delivery capabilities. Gyroscope claimed in its announcement the merger would make it the first such end-to-end gene therapy provider.
Founded in 2016, Gyroscope is working on retinal gene therapies for dry age-related macular degeneration, a condition that leads to vision loss.
The spinout commercialises research undertaken in the lab of Sir Peter Lachmann, emeritus Sheila Joan Smith professor of immunology at University of Cambridge’s Department of Veterinary Medicine and the founding president of the UK’s Academy of Medical Sciences.
Gyroscope also exploits studies on potential patient populations undertaken by David Kavanagh, professor of complement therapeutics at Newcastle University, and Andrew Lotery, professor of ophthalmology at University of Southampton.
The company was established by tech transfer office Cambridge Enterprise and Syncona, the life sciences investment trust backed by research charities Wellcome Trust and Cancer Research UK.
Cambridge Innovation Capital, the university’s affiliate patient capital fund, supplied an undisclosed amount in funding to Gyroscope last month. Cambridge Enterprise had previously also invested in the spinout, though details could not be ascertained.
Orbit Biomedical was founded in 2018 and is also a portfolio company of Syncona. The company was working on tehcnologies to deliver treatments to the sub-retinal space.
The newly formed business will be led by a management team made up of executives from Gyroscope and Orbit Biomedical. Khurem Farooq, former senior vice-president of biotech firm Genentech’s immunology and ophthalmology business, has been hired as chief executive.