Syncona building Slingshot incubator; Trace launches with $101M

An inflammatory disease program from the University of Manchester will be the first project housed in Syncona’s new Slingshot incubator, set up to advance academic spinouts from the U.K., U.S. and Europe.

Syncona Ltd. (LSE:SYNC) has committed £12.5 million ($15.8 million) to the incubator, which will provide leadership, operational support and other resources to a pipeline built by the U.K. firm. Two Syncona partners will lead Slingshot: Managing Partner Edward Hodgkin will be its executive chair, and Executive Partner Richard Wooten its CSO...