Healthcare Industry News: neurodegenerative
News Release - October 12, 2010
Synosia Therapeutics Raises $30M in Series C FinancingBASEL, Switzerland--(Healthcare Sales & Marketing Network)-- Synosia Therapeutics, a privately held biotherapeutics company focused on neurology and psychiatry, today announced that it has raised $30M in a Series C financing round.
The round was led by new investor UCB, which invested $20M, with $10M from existing investors Versant Ventures, 5Am Ventures, Novo A/S, Aravis Venture, Investor Growth Capital and Swiss Helvetia Fund.
The Series C financing accompanies Synosia’s strategic collaboration with UCB, also announced today. The collaboration covers Synosia’s lead compounds SYN-115 and SYN-118 in development to treat Parkinson’s disease.
As part of the collaboration, UCB’s President of North American Operations Greg Duncan and Executive Vice President of Drug Discovery and President of UCB New Medicines Ismail Kola will join Synosia’s Board of Directors.
Synosia’s Chief Executive Officer and President Ian Massey said: “With this strategic round, we have the means to deliver further value from our portfolio. Our products currently in development all have the potential to be first or best-in-class medicines for the treatment of important neurodegenerative diseases.”
“The financing enables Synosia to enter a new era, focusing on later-stage development and building on the promising clinical data already generated,” added Chairman of the Board Brad Bolzon.
About Synosia Therapeutics
Synosia Therapeutics is a privately owned company, which develops and intends to commercialise innovative, first or best-in-class products for unmet medical needs in neurology and psychiatry. Synosia uses cutting-edge technologies and creative clinical study designs to de-risk its compounds before moving into larger, more extensive Phase II and III programmes.
Synosia has six clinical-stage compounds in its pipeline for neurological and psychiatric diseases with high unmet medical need, including Parkinson’s and Alzheimer’s disease. Synosia is headquartered in Basel, Switzerland. For more information, visit www.synosia.com.
This communication expressly or implicitly contains certain forward-looking statements concerning Synosia Therapeutics and its business. Such statements involve certain known and unknown risks, uncertainties and other factors which could cause the actual results, financial condition, performance or achievements of Synosia Therapeutics to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.
Synosia Therapeutics is providing this communication as of this date and does not undertake to update any forward-looking statements contained herein as a result of new information, future events or otherwise.
Source: Synosia Therapeutics
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