We advised Gyroscope Therapeutics on its private placement of preferred stock

Davis Polk advised Gyroscope Therapeutics Limited on its $148 million private placement of Series C preferred shares. The financing was led by Forbion’s Growth Opportunities Fund and includes Sofinnova Investments, funds and accounts advised by T. Rowe Price Associates, Inc., Tetragon Financial Group Limited, Fosun Pharma, Cambridge Innovation Capital and Syncona.

Gyroscope Therapeutics is a clinical-stage gene therapy company developing gene therapy beyond rare disease to treat diseases of the eye that cause vision loss and blindness. Its lead investigational gene therapy, GT005, is currently being evaluated in Phase II clinical trials for the treatment of geographic atrophy (GA) secondary to age-related macular degeneration, a leading cause of blindness. GT005 has received Fast Track designation from the U.S. Food and Drug Administration for the treatment of people with GA.

The Davis Polk corporate team included partners Dan Hirschovits, Marcel Fausten and Yasin Keshvargar, counsel Simon J. Little and associates Donald K. Lang, Rebecca Bundey and Kimberly Wang. Partner Jonathan Cooklin, counsel Dominic Foulkes and associate Freddie Schwier provided tax advice. Members of the Davis Polk team are based in the London, New York and Northern California offices.