Calculus injects £2.1m into Synpromics

The GP acquired a 33% equity stake in the company. The deal was sourced through a management-contact from a company that Calculus has previously backed. 

Synpromics had a previous financing round, which was not backed by venture capital or private equity firms. 

The fresh capital will be used to finance the company's expansion and to further develop Synpromics' technology.

Calculus was the only investor in the round and drew capital from its Calculus Capital EIS Fund 15. The GP recently launched its Fund 16. 

Company
Founded in 2011 in Edinburgh, Synpromics is a biotech firm that researches gene therapies for haemophilia and hereditary blindness. The firm, with its eight employees, is currently exploring the synthetic biology field, trying to create man-made DNA sequences.

People
Alexandra Lindsay is an investment director at Calculus. She will join Synpromics' board. David Venables is the CEO of Synpromics.

Advisers
Equity – Key Stone Law, Dee Sian (Legal); Mazars, Stephen Miller (Financial due dilligence).

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• Topics
• UK / Ireland
• Healthcare
• Expansion
• United Kingdom