A strong European investor syndicate co-led by Kurma Partners and Sunstone Life Science Ventures has invested CHF 20 million in Synendos Therapeutics’ Series A financing round. The Basel-based company will use the funds to complete pre-clinical development and progress lead candidate through proof of concept clinical study.
Incorporated in April 2019 as a spinoff of the University of Bern and the research consortium, NCCR TransCure, Synendos Therapeutics co-founded by professor Jürg Gertsch and Andrea Chicca (CEO) is focused on introducing a breakthrough approach to developing safe and effective therapies for unmet needs in neuropsychiatric disorders.
The company leverages the founder’s more than ten years of research to develop first-in-class inhibitors that modulate a newly identified drug target in the body’s endocannabinoid system. The drug enables restoration of endogenous cannabinoid levels that are suppressed in certain pathological conditions. The endocannabinoid system is a key neuromodulator system in the CNS involved in regulating various physiological and cognitive processes. Synendos’ newly developed selective endocannabinoid reuptake inhibitors (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. The drug candidate is currently in preclinical development.
The proceeds from the newly concluded series A financing round will be used to complete this development and advance Synendos’ lead drug candidate through safety and proof of concept studies in a relevant and well-defined disease indication, as part of early/initial clinical trials.
Alongside co-lead investors, Kurma Partners and Sunstone Life Science Ventures, Synendos Therapeutic obtained investment from BERNINA BioInvest, Schroder Adveq, High-Tech Gründerfonds, Lichtsteiner Foundation, Essential Investments, Zürcher Kantonalbank and private investors.
New board members for Synendos
In line with the round, Peter Neubeck of Kurma Partners, Søren Lemonius of Sunstone Life Science Ventures and Bettina Ernst of Bernina Bio Invest will join Synendos Therapeutics CEO, and co-founder, Simon Russell on the Board of Directors.
“Synendos Therapeutics represents a perfect match with the type of investment opportunities Sunstone looks for – a novel approach to biology that is relevant for patients struggling with severe diseases, such as fear and anxiety, but not yet well explored by the established industry. We are very excited about our new investment in Synendos Therapeutics and look forward to collaborating with the three founders and the new board in the years to come,” said Søren Lemonius, Managing Partner at Sunstone Life Science Ventures.
(Press release)
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