Azeria Therapeutics has picked up Syncona as an investor as it looks to bring its therapy for receptor-positive luminal breast cancer into the clinic.

Azeria Therapeutics, a UK-based oncology spinout of University of Cambridge and research charity Cancer Research UK (CRUK), yesterday received £32m ($41.2m) in a series B round led by commercialisation firm Syncona.
Syncona invested approximately $38m and was joined by CRT Pioneer Fund, the investment vehicle formed by CRUK’s tech transfer arm – Cancer Research Technology – that counts Syncona as its largest investor.
Founded in 2017, Azeria is advancing drug candidates for cancer based on pioneer factors that influence genetic transcription by directly binding a DNA-protein complex called chromatin.
The spinout sprung from work carried out by its founder and chief scientific officer Jason Carroll, a researcher at Cancer Research UK Cambridge Institute, a collaboration between University of Cambridge and CRUK.
Azeria’s pipeline is led by FOXA1, a pioneer factor linked to tumour growth and the overall condition of the oestrogen receptor in receptor-positive luminal breast cancer.
An estimated 30% of patients living with the disease progress to the stage where existing endocrine-based therapies become less effective.
The series B funding will help Azeria bring FOXA1 into the clinic and conduct research into other potential oncological programs.
Martin Murphy and Magda Jonikas, CEO and partner at Syncona respectively, will both join the Azeria board of directors.
Azeria Therapeutics previously attracted about $5.2m of series A funding from CRT Pioneer Fund in September 2018.  The fund is managed by Sixth Element Capital.