Synlogic Secures $40M in Series B
CAMBRIDGE, MA, Privately-held biopharmaceutical company developing novel medicines has closed a Series B investment round with $40 million.
Synlogic, a privately-held biopharmaceutical company developing novel medicines based on its proprietary synthetic biology and microbiome platform, today announced that it has closed a Series B investment round with $40 million in additional financing led by OrbiMed HealthCare Fund Management, bringing the total investment in its combined Series A and B financing to $70 million. In addition to OrbiMed, Deerfield Management Company and founding investors Atlas Venture and New Enterprise Associates (NEA) also participated in the financing.
'We are very pleased with the strong interest in this financing round from leading life science investors,' said Dr. Jose Carlos GutiĆ©rrez-Ramos, CEO of Synlogic. 'The additional funds will support the development efforts of our two lead inborn errors of metabolism programs, UCD and PKU, which we plan to advance to the clinic in early 2017, as well as expand our pipeline of Synthetic Biotics across multiple therapeutic areas. This financing together with our recently announced partnership with AbbVie for the treatment of inflammatory bowel diseases, positions Synlogic well to realize the transformative potential of this new class of medicines.'
As a part of the new financing, Mr. Chau Q. Khuong, a Private Equity Partner at OrbiMed, will join the Synlogic Board of Directors.
'OrbiMed is delighted to lead this financing of Synlogic, a pioneering company at the convergence of synthetic biology and the microbiome.' said Mr. Khuong. 'Synlogic's approach of developing 'designer' probiotics through precision molecular programming to treat human disease is exciting and has the potential to revolutionize the treatment paradigm for a number of medical conditions.'
About Synthetic Biotics
Synthetic biotics are a new class of medicines designed from natural probiotic bacteria that are engineered using Synlogic's proprietary synthetic biology and microbiome platform to treat disease. Synthetic biotics operate from the microbiome and perform specific metabolic transformations to correct disease-causing metabolic dysregulation throughout the body. This innovative approach to disease correction allows the shifting of a corrected and enhanced metabolic function from a disease organ to a stable, non-colonizing fraction of the microbiome.
Synlogic is a privately-held biopharmaceutical company based in Cambridge, Massachusetts, pioneering the development of a novel class of therapeutics, called synthetic biotics, based on its proprietary synthetic biology and microbiome platform. Synlogic's two lead therapeutic programs are being developed for the potential treatment of rare inborn errors of metabolism of Urea Cycle Disorder (UCD) and Phenylketonuria (PKU). In addition to the company's proprietary pipeline focused on rare diseases, the company is leveraging the broad potential of its synthetic biotics platform for novel drug development in major disease areas through partnerships with pharmaceutical and biotechnology companies. Synlogic is collaborating with AbbVie to develop synthetic biotics-based treatment for inflammatory bowel disease (IBD). Synlogic is backed by leading life sciences investors, including Atlas Venture, New Enterprise Associates (NEA), Orbimed, Deerfield and the Bill & Melinda Gates Foundation. For more information, please visit http://synlogictx.com/.
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