The $8m final tranche of the round, which was co-led by Baxalta Ventures, was triggered this week when Syntimmune chose the dose for its lead candidate'sphase 1b/2a trials.
US-based autoimmune disease treatment developer Syntimmune increased the size of a series A round featuring Baxalta Ventures, the strategic investment arm of pharmaceutical company Baxalta, to $26m yesterday.
The round was co-led by Baxalta Ventures and venture capital firm Apple Tree Partners, and included Partners Innovation Fund, the VC representative of care providers Partners HealthCare, Brigham and Women’s Hospital, Massachusetts General Hospital and McLean Hospital.
Founded in 2013, Syntimmune is working on therapies for autoimmune diseases based on the biology of the body’s neonatal Fc receptor. It has filed an investigational new drug (IND) application for its lead product candidate, SYNT001, which has advanced through phase 1a trials.
The company had closed the $8m first tranche of the round in 2014 before adding $10m in March this year. The dose selection for its lead product candidate’s follow-on phase 1b/2a studies this week triggered the final $8m tranche, and Syntimmune has now raised $28m in total.
Laurence Blumberg, founder and chief operating officer of Syntimmune, said: “We have continued to execute and accomplish key goals for 2016.
“These include the closing of the second and final tranches of our series A, which was co-led by Apple Tree Partners and Baxalta Ventures with participation by the Partners Innovation Fund and additional investors and the successful filing of our IND for SYNT001 and the progression of our first clinical trial of this promising candidate with breakthrough potential.”
