Synendos Therapeutics raises additional funds in Series A

Please login or
register
20.04.2021

Synendos Therapeutics today announces the extension to its Series A financing with the addition of Ysios Capital to its syndicate of European investors. The additional capital of CHF 4 million brings the total amount raised to CHF 24 million and will be used to complete preclinical development and advance its lead drug candidate through safety and proof-of-concept clinical studies.

Synendos is a biopharmaceutical company developing a new class of small molecules aimed at restoring the natural functioning of the endocannabinoid system in the brain with the potential for treating a wide range of Central Nervous System (CNS) disorders. With selective endocannabinoid reuptake inhibitors (SERIs), the company is developing first-in-class endocannabinoid system modulators that mildly and selectively increase endogenous cannabinoids levels by inhibiting a newly identified drug target. SERIs act by increasing the levels of endogenous cannabinoids in a self-limiting mode of action, representing an innovative and potentially safer therapeutic approach to CNS disorders associated with anxiety, mood and stress-related disorders, than is currently available.

Following the first closing of its series A investment in November 2020 co-led by Kurma Partners and Sunstone Life Science Ventures announced, the startup has obtained additional capital bringing the total capital raised to CHF 24 million. Ysios Capital joined the startup’s syndicate of European investors. Proceeds from the financing will be used to complete preclinical development and advance Synendos’ lead drug candidate through safety and proof-of-concept clinical studies in relevant and well-defined disease indications.

Synendos has also secured a two-year grant from the Eurostars funding programme (EU funding scheme), named EndoCARE, to work as part of a group of four corporations and one academic institution. EndoCARE aims to expand proof-of-mechanism preclinical studies of the first effective and safe pharmacotherapy for the treatment of post-traumatic stress disorder (PTSD) through the restoration of endocannabinoid homeostasis. EndoCARE also aims to explore potential biomarkers for early clinical studies.

Start of IND enabling studies this year

Andrea Chicca, Co-founder and CEO of Synendos Therapeutics, commented: “We are very pleased to both welcome Ysios Capital to our investment syndicate. Looking ahead, Synendos is on track to start IND enabling studies this year as we work towards reaching a clinical inflection point in the development of novel drug technology to help combat anxiety, mood and stress-related disorders.”

Synendos is supported by Lichtsteiner Foundation. In the testimonial video below Co-founder and CEO Andrea Chicca gives insights into entrepreneurship, Synendos and its breakthrough approach to treat unmet needs in CNS disorders.

(RAN)

0Comments

More news about

Synendos Therapeutics AG

Company profiles on startup.ch

Synendos Therapeutics AG

rss