Synpromics Deal Significantly Exceeds Target Returns for Calculus Investors
- On August 19, 2019
- By GrowthInvest
Scottish biotech company, and the market leader in gene therapy control technologies, Synpromics, has been bought by AskBio, the American pioneer in gene therapeutics.
EIS and VCT fund manager Calculus Capital, which first invested in Synpromics in 2015 and invested £5.6m into the company in total, will receive a return on investment that significantly exceeds target returns.
The success of the Synpromics sale comes as Calculus, which created the UK’s first approved EIS Fund in 1999, celebrates its 20-year anniversary by unveiling its new Fund in August 2019.
John Glencross, Chief Executive of Calculus Capital, said: “While the financial terms of the acquisition are undisclosed, the deal will give Calculus investors an impressive return multiple on their investment. We are proud to deliver such an exceptional level of performance within four years. The deal is further enhanced by the potential to benefit from future licensing fees on the company’s existing portfolio of licences.”
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