Syncona settles Resolution with $34.5m series A

Resolution Therapeutics, a UK-based liver disease therapy spinout of University of Edinburgh, was formally established yesterday with a £26.8m ($34.5m) series A commitment from commercialisation firm Syncona.
The agreement includes a $516,000 up-front payment to fund the incorporation of Resolution’s business and registration of its intellectual properties.
Syncona will own a majority stake of 79% in Resolution Therapeutics once its overall commitment has been invested. The valuation of its current shareholding is $2.3m.
Formed in 2018 under a collaboration agreement with University of Edinburgh, Resolution is working on cell therapies for end-stage liver disease.
The spinout will leverage macrophage white blood cells to engender the repair of liver wounds and injuries, offering restoration for patients whose liver has been irretrievably damaged.
Martin Murphy and Ed Hodgkin, chief executive and partner at Syncona respectively, have joined the board of directors following the series A round, although it was unclear how Resolution would invest the proceeds.
Resolution received $1.8m in a pre-incorporation seed round in 2018 from undisclosed investors.
The company exploits foundational research spearheaded by Stuart Forbes, a professor of transplantation and regenerative medicine at University of Edinburgh specialised in macrophages and liver regeneration.