Purespring Therapeutics secures £80 million in Series B funding

New investment to advance gene therapies for kidney diseases

Purespring Therapeutics has raised £80m in an oversubscribed Series B financing round. Syncona Ltd, a leading life science investor, committed £19.9m as part of a syndicate led by Sofinnova, alongside Gilde Healthcare, Forbion and British Patient Capital.

The funds will be used to advance Purespring’s pipeline of gene therapies for kidney diseases, with clinical trials expected to begin in 2026.

Michael Kyriakides, Investment Partner at Syncona and Board Director of Purespring, expressed his enthusiasm: “Syncona founded Purespring with the vision of creating the world’s leading kidney gene therapy company and we have been impressed with its progress.”

He added: “Today’s financing and the strong syndicate of investors that the company has attracted broadens Purespring’s financial scale and clearly validates its technology, strategy and execution to date. We look forward to working alongside Purespring and its new syndicate as it prepares for its phase 1/2 clinical trial.”

Founded in 2020, Purespring is one of the first companies to focus on adeno-associated virus (AAV) gene therapy for kidney diseases.

The company has made significant strides, generating promising pre-clinical data and developing a robust chemistry, manufacturing, and controls (CMC) platform. This platform will support future clinical development and commercialisation.

The latest funding brings Purespring’s total raised to approximately £115 million. The proceeds will help advance its gene therapies into clinical trials, starting with PS-002 for IgA Nephropathy (IgAN), a chronic kidney disease affecting young adults. Nearly one third of IgAN patients lose kidney function within five years, requiring transplantation or dialysis.

Syncona’s £19.9m commitment includes the final £9.9 million tranche of its Series A commitment and an additional £10m.

Syncona’s interest in Purespring is now valued at £51.2 million. Upon full drawdown of the Series B financing, Syncona’s ownership stake will be 38.1%.