Synosia announces $30M Series C financing

Oct 12 2010

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.

“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 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.

SOURCE Synosia Therapeutics