The news is also a blow to FTSE 250-listed Syncona, which recently upped its stake to 54%
Gyroscope Therapeutics Holdings PLC has pulled its planned initial public offer (IPO) in New York, citing unfavourable market conditions.
Earlier this week the clinical-stage gene therapy company had submitted an indicative pricing range for the Wall Street IPO, with the American Depositary Shares set to be placed with investors at between US$20 and US$22 apiece.
With a proposed 6.75mln ADSs to be floated this would have resulted in gross proceeds to Gyroscope of roughly US$142mln.
But on Friday, chief executive Khurem Farooq said in a statement: “In light of market conditions, we have decided to postpone our planned initial public offering.
4 May 2021 | 16:36pm
StockMarketWire.com - The FTSE 100 slumped after a decent start on Tuesday as concerns over a global chip shortage sparked a tech sell-off in the US.
By the close the index was down 0.7% at 6,923.17. In the US the S&P 500 was down 1.4% to 4,132.97 with the tech-focused Nasdaq index down 2.7% to 13,519.50 by 4.30pm UK time.
Retailing group Frasers, formerly known as Sports Direct, rallied 6.4% to 548.5p after it kicked off an up to £60 million share buyback.
Advertising company S4Capital firmed 1.8% to 569p, having upgraded its annual guidance after its first-quarter gross profit jumped 71% as acquisitions boosted sales.
S4Capital also announced that it had acquired Brazilian digital performance agency Raccoon, for an undisclosed sum.
Centre for Eye Research Australia
Australia’s first clinical trials of an investigational gene therapy to treat dry age-related macular degeneration (AMD) have begun at the Centre for Eye Research Australia (CERA).
CERA’s Principal Investigator of Retinal Gene Therapy Research and vitreoretinal surgeon Dr Tom Edwards performed the first surgeries to administer the investigational gene therapy to patients at the Royal Victorian Eye and Ear Hospital in Melbourne.
This investigational gene therapy, being developed by Gyroscope Therapeutics Limited, is being studied in two studies evaluating its safety and effectiveness for the treatment of geographic atrophy (GA) secondary to AMD.
LaingBuisson News
Sander Slootweg, managing partner and co-founder of Forbion
European life sciences venture capital firm, Forbion, has announced the final close of its Forbion Growth 1 Fund at â¬360m (US$428m). The fund is focused on investing in late-stage life sciences companies, particularly European companies that develop novel therapies for areas of high medical need. The hard cap exceeds the original target size of â¬250m.
Forbion uses three strategies that aim to provide: private growth capital for clinical stage development assets, cross-over capital to companies aiming to pursue a public listing in the near-term, as well as capital injections that support existing under-valued public companies. It plans to take a leading position in its targets with an investment size of up to â¬35m per deal.