Synageva BioPharma announced the first closing of a financing raising $30 million. The round was led by Baker Brothers Investments. Other investors participating in the financing include Tullis Dickerson and Four Partners. As part of the transaction, Synageva announced that Robyn Samuels, Vice President with Tisch Family Interests, has joined its Board of Directors representing Four Partners. Subsequent closings of additional new and existing investors representing both large private equity and venture capital funds will occur over the next few weeks. These investments will be in addition to the $30 million already raised.
Synageva is a biopharmaceutical company dedicated to developing and commercializing novel, next generation, and follow-on protein therapeutics that leverage the unique competitive advantages of thier proprietary Synageva Expression Platform (SEP™). Synageva’s development programs address specific unmet medical or market needs in several therapeutic areas, including oncology, organ dysfunction, autoimmune diseases and rare disorders. They have generated a diverse pipeline of product candidates, including high-potency monoclonal antibodies with potentially up to 100-fold increased killing activity for cancer targets, novel proteins for rare diseases, and next generation and follow-on cytokines.
This funding will be utilized to advance Synageva’s products to later stages of development in order to maximize their value for partnership discussions. Specifically, we will be advancing three of our most promising development programs through IND, including two novel/ next generation monoclonal antibodies, and a novel protein therapeutic. Synageva is also pursuing partnerships for the development and commercialization of our later stage pipeline, in addition to collaborations with potential partner companies for producing other product candidates with favorable safety and efficacy profiles.
(via PE Hub)
Theoretically Related Posts
Eben is a highly caffeinated business development associate at a small, cash sensitive pharmaceutical company somewhere in Massachusetts. He enjoys cliche-less banter, compartmentalization, non-equilibrium thermodynamics and NPV analysis. Agree or disagree with what he's posted? He encourages comments.
If one were so inclined, one could follow him at any of these fine web 2.0 establishments:
Feel free to leave a comment below. Eben loves comments. You may also subscribe to comments through this RSS Comments feed or trackback here.
Add New Comment
Thanks. Your comment is awaiting approval by a moderator.
Do you already have an account? Log in and claim this comment.
Add New Comment
Trackbacks
(Trackback URL)