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Synosia raises CHF32 million

This article was originally published in Scrip

Executive Summary

Synosia Therapeutics has raised CHF32 million ($29 million) in a series B private financing round led by Aravis Venture and Investor Growth Capital. It will use the funds to develop its six clinical-stage compounds acquired through strategic partnerships with Roche, Novartis and Syngenta. SYN-111 (rufinamide), an orally bioavailable sodium channel blocker for the treatment of anxiety acquired from Novartis, is currently in Phase II development. The company also has SYN-115, an adenosine A2A antagonist for the treatment of Parkinson's disease, and SYN-117 (nepicastat) for the treatment of drug dependency and post-traumatic stress disorder, in Phase II development. Jean-Philippe Tripet, managing partner of Aravis, will join Synosia's board of directors. He said that it was rare to see a private biotechnology company with compounds in four promising Phase II clinical trails. Other investors joining the board are Gosta Jonsson, independent scientific advisor to Investor Growth Capital; Guido Magni, formerly of Roche; Harry Welten, chief financial officer of Arpida; Ralf Rosenow, partner of BlumGrob Attorneys at Law; and Genghis Lloyd-Harris, partner of Abingworth.

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