Synosia raises $29M for Phase II testing
Switzerland's Synosia Therapeutics has garnered $29 million in a Series B, much of which will be spent on four experimental therapies in Phase II trials. Aravis Venture and Investor Growth Capital led the round, joined by Swiss Helvetia Fund and all its existing investors: Versant Ventures, Abingworth, Novo A/S and 5am Ventures.
Synosia Chairman Brad Bolzon said that Synosia now has the funds on hand to complete all four mid-stage trials.
"Of the six clinical-stage compounds acquired from Roche, Novartis and Syngenta, two are already marketed by other companies in non-competing indications", said Jakob Lindberg, a partner of Investor Growth Capital. "This enables Synosia to build on thousands of years of patient experience, significantly reducing the development risk from a safety perspective."
- read the Synosia release
PLUS: VentureWire reports that Anaphore has raised $25 million in its Series A. Report
ALSO: Palo Alto, CA-based Intradigm Corporation--which is developing RNAi therapies--says that the company has closed the final tranche of its Series B financing. Astellas Venture Management led the $2.9 million tranche, with existing investor Lilly Ventures also participating. The latest injection of capital brings Intradigm's Series B take to $21.4 million. Release