Syncona leads £35m series-A for Quell

Syncona has invested an initial £8.3m and has agreed to release the remaining amount in instalments. It will hold a 69.3% stake in the company.

UCL Technology Fund also invested £1m as part of the round.

The VC has launched Quell alongside six specialists in T regulation (Treg), cell engineering, solid organ transplantation and autoimmune diseases from Kings College London, UCL and Hannover Medical School. According to a statement, Tregs are "a subset of T cells that provide a regulatory function that harnesses their strong immune-suppressive capacity". The business intends to develop treatments for conditions related to immune dysfunction through the use of gene-modified cells.

The first round of funding will support the development of the company's first programme, in addition to the building out of its management team and operations.

As part of the deal, Syncona CEO Martin Murphy will take on the role of chairperson at Quell, while the firm's partners Elisa Petris and Freddie Dear will take on the roles of director and observer on the board respectively.

Company
Founded in March 2019 and headquartered in London, Quell intends to develop Treg cell therapies for the management and treatment of conditions including solid organ transplant rejection, autoimmune diseases and inflammatory diseases.

People
Syncona Partners – Martin Murphy (CEO); Elisa Petris, Freddie Dear (partners).

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