🏆 Deal of the Week · CW 41/2024
Purespring Therapeutics raised GBP 80 million in a Series B funding round; the post-money valuation was not disclosed. The round was co-led by Synconca Partners LLP and Sofinnova Partners, with participation from Glide Healthcare, Forbion Capital Partners, and British Patient Capital.
Purespring Therapeutics — key deal facts
| Company | Purespring Therapeutics |
| Founded | 2020 |
| Headquarters | London, United Kingdom |
| Amount raised | GBP 80M |
| Valuation | Valuation Remains Undisclosed |
| Round | Series B |
| Investors | Synconca Partners LLP, Sofinnova Partners, Glide Healthcare, Forbion Capital Partners, British Patient Capital |
| Sectors | BioTech |
Who invested in Purespring Therapeutics?
The syndicate combines dedicated life-sciences venture capital from Sofinnova Partners and Forbion Capital Partners with growth-stage healthcare specialist Glide Healthcare, Synconca Partners LLP, and the UK government-backed British Patient Capital. The presence of British Patient Capital underscores the strategic national interest in advancing gene therapy innovation within the United Kingdom.
What does Purespring Therapeutics do?
Purespring Therapeutics is a gene therapy company founded in 2020 and headquartered in London, United Kingdom. The company develops therapies that directly target the podocyte, a specialised cell implicated in approximately 60% of renal diseases. Its lead programme, PS-002, is being developed for IgA Nephropathy, with additional pipeline programmes addressing nephrotic syndrome and other glomerular kidney diseases. The company was founded on the research of Professor Moin Saleem of the University of Bristol and is led by CEO Haseeb Ahmad.
Purespring Therapeutics valuation & multiples
No existing multiples analysis was provided for this deal. As a private-stage biotech company that has not yet disclosed revenue, standard EV/Sales and EV/EBITDA benchmarks are not directly applicable at this time. For current valuation multiples relevant to the BioTech sector, see the Venionaire DealMatrix BioTech sector multiples pages.
Explore the benchmarks: Series B.
Frequently asked questions
How much did Purespring Therapeutics raise in its Series B?
Purespring Therapeutics raised GBP 80 million in its Series B round, recognised as Deal of the Week for KW 41/2024.
What is Purespring Therapeutics's valuation?
Purespring Therapeutics's post-money valuation was not disclosed as part of this financing.
Who invested in Purespring Therapeutics?
The Series B investors are Synconca Partners LLP, Sofinnova Partners, Glide Healthcare, Forbion Capital Partners, and British Patient Capital.
When was Purespring Therapeutics founded and where is it based?
Purespring Therapeutics was founded in 2020 and is headquartered in London, United Kingdom.
Source: original announcement — read the full report.