Gyroscope Therapeutics Holdings, a UK-based Phase 2 biotech developing gene therapies for ocular diseases, filed on Friday with the SEC to raise up to $100 million in an initial public offering.
Gyroscope's mission is to preserve sight and fight the devastating impact of blindness, with an initial focus on age-related macular degeneration (AMD). The company is developing a differentiated pipeline of recombinant adeno-associated virus gene therapy candidates. Its lead investigational gene therapy, GT005, is advancing in an ongoing Phase 1/2 trial and is being evaluated in Phase 2 trials in two different genetically defined patient populations with geographic atrophy, an advanced form of dry AMD.
The Hertfordshire, United Kingdom-based company was founded in 2016 and booked $1 million in revenue for the 12 months ended December 31, 2020. It plans to list on the Nasdaq under the symbol VISN. Gyroscope Therapeutics Holdings filed confidentially on January 11, 2021. Morgan Stanley, Goldman Sachs and Citi are the joint bookrunners on the deal. No pricing terms were disclosed.
