PORTFOLIO Azeria Therapeutics Azeria was a small molecule drug discovery company targeting treatment of oestrogen receptor positive breast cancer. Syncona made a £29.5 million Series B financing commitment in November 2019 to Azeria, having sourced the opportunity through the Cancer Research Pioneer Fund. At the point of our investment, the company had made promising target validation and drug discovery progress and, following our investment, a programme of further work commenced to extend the initial findings with the expectation that we would build further confidence to support entry to the clinic. Syncona invested an initial tranche of £6.5 million, limiting capital at risk, and set milestones for the drawdown of the next tranche of funding that were explicitly designed to test the core investment thesis. The Azeria team implemented an extremely rigorous research plan to deliver high quality, robust and reproducible data. In partnership with the company’s management team, we carefully reviewed data from pre-clinical studies which, unfortunately, did not support further investment. We worked collaboratively with the management team to quickly recover as much value as possible from the investment, so that we can reallocate our time, investment capacity and capital to other opportunities. We wrote off £4.5 million, recovering £2.0 million of our investment. Other previous investments portfolio companies Other domain areas Cell therapy Gene therapy Biologics Small molecule Sign-up for company news alerts Get the latest RNS, company news, share price information and results from Syncona RNS ALERTS COMPANY ALERTS Contact Syncona Investment Management Limited 2nd Floor 8 Bloomsbury Street London WC1B 3SR contact@synconaltd.com Explore About us Our people Portfolio Sustainability News and Insights Investors Contact Copyright © Syncona 2021 Accessibility Privacy & cookies Employee privacy notice Third party privacy notice Regulatory publications Modern Slavery Statement Syncona Limited is registered in Guernsey no. 55514, registered office Arnold House, PO Box 273, St Julian’s Avenue, St Peter Port, Guernsey GY1 3RD. Syncona Investment Management Limited is registered in England no. 10497864, 8 Bloomsbury Street, London WC1B 3SR and is authorised and regulated by the FCA. Syncona Limited is managed by Syncona Investment Management Limited. Designed & built by SampsonMay Accept to continue or find out more in our cookie policy. Change settings ACCEPT AND CLOSE