Sydnexis, a San Diego CA-based biopharmaceutical company, raised $45M in Series B funding.
The round was led by Visionary Ventures, Blue Stem Capital, and SC Master Fund with participation from RA Capital Management, Longitude Capital and Medicxi. In conjunction with the financing, Jeffry Weinhuff, Managing Partner, Visionary Ventures, Richard L. Lindstrom, MD, Tyler Stowater, Partner, Bluestem Capital, and Gregory Grunberg, MD, Managing Director, Longitude Capital will join Sydnexis’ board alongside existing directors Zach Scheiner, PhD, Principal, RA Capital Management, and Kenneth J Widder, MD Chairman and CEO.
Led by Kenneth J. Widder, MD, Chief Executive Officer, Sydnexis is a clinical stage pharmaceutical company focused on the development of a novel proprietary formulation of low dose atropine for the treatment of myopia.
The company intends to use the funds to advance its lead candidate, SYD-101, through completion of the fully enrolled pivotal Phase 3 STAAR study for the treatment of progressive myopia in children. In this study, Sydnexis is evaluating two different concentrations of its proprietary atropine formulation SYD-101 (0.01% and 0.03%) versus a placebo control group. SYD-101 is designed to be a best-in-class product with maximum efficacy, comfort and 3-year stability at room temperature, all important product attributes when developing drugs for use in children.
FinSMEs
11/08/2021