PE-backed AskBio buys Synpromics

The transaction comes four months after TPG and Vida took part in a $225m growth capital funding round for AskBio.

The deal is intended to enhance the acquirer's expertise and intellectual property, enabling it to more accurately target complex diseases and improve the efficacy of its adeno-associated virus (AAV) gene therapy treatments. It is also intended to create efficiencies in the AAV manufacturing process.

Both companies will continue to operate independently following the deal.

Company
Founded in 2010, Edinburgh-headquartered Synpromics is a gene therapy company. The business develops gene control synthetic promoter technology, bioinformatics and data analysis products designed to enable precise cell targeting and gene expression.

People
AskBio – Sheila Mikhail (CEO, co-founder); Jude Samulski, Xiao Xiao (co-founders).
Synpromics – Michael L Roberts (founder, chief scientific officer); David Venables (CEO).

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