Syncona leads £32m series-B for Azeria

Syncona committed £29.5m, with previous investor CRT Pioneer Fund also joining the round.

Magda Jonikas and Martin Murphy of Syncona will join the board of Azeria. 

The GP said it would participate directly in the next stage of Azeria's growth and development. The fresh capital will be used to develop its lead drug discovery programme towards commercialisation and to explore a pipeline of further programmes in oncology.

Previous funding
In 2018, Sixth Element Capital led a £5.5m series-A funding round for Azeria. The GP deployed capital from its £70m CRT Pioneer Fund, which focuses on early-stage investments in innovative oncology programmes.

Company
Founded in 2017 by Sixth Element Capital and Cancer Research UK, Azeria Therapeutics is based in Cambridge and specialises in developing breakthrough treatments for hormone-resistant breast and prostate cancer patients.

Using its proprietary drug screening platform, Azeria is developing a pipeline of small molecules designed to selectively inhibit pioneer factors shown to be pivotal in tumor development and that underpin drug resistance in cancer.

People
Azeria Therapeutics – Stephen Myatt (CEO).
Syncona – Martin Murphy (CEO).

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