Danish biotech Synklino has completed a Series A fundraising round that netted €29.8M ($31.8M).
The company is developing drugs for the treatment of chronic viral infections, and the funding will be used for its drug candidate, SYN002, for the treatment of cytomegalovirus (CMV). This will involve both ex vivo and in vivo Phase 1 clinical trials, as well as generate safety and efficacy data.
CMV is the main agent involved in infectious complications following transplantation. The SYN002 drug can eliminate CMV from infected patients.
Thomas Kledal, co-founder and CEO, said: “This financing round is a game changer for Synklino. We are now able to prepare and initiate clinical trials with SYN002 in organs and in patients concurrently, providing more paths to reach significant and value creating milestones in a shorter timeline. Since the capital raise in November 2021, we have had strong progress in our preclinical activities and are on track to deliver on our goal for the first half of 2023 of completing our clinical trial application.”
John Haurum, the company’s chair of the board, added: “It is a validation of Synklino’s potential that the company attracts notable investors like PKA and Maj Invest. We are also thankful for the continued support from our existing shareholders, including The Danish Growth Fund and Eir Ventures.”
CMV is a common virus for people of all ages, and most people aren’t even aware of it.
In the U.S., almost one in three children are infected with CMV by the time they are five. And more than half of adults have been infected with CMV by age 40.
Once CMV is in a person’s body, it stays there for life and can reactivate. Also, different strains can cause infection.
While this isn’t an issue for most people, it can cause issues for those with weakened immune systems.
According to the Mayo Clinic, complications of CMV infection can include: vision loss, due to inflammation of the light-sensing layer of the eye; digestive system problems, including inflammation of the colon, esophagus and liver (hepatitis); nervous system problems, including brain inflammation (encephalitis); and pneumonia.
In November 2020, Austrian company Hookipa Pharma’s phase II trial showed its lead vaccine candidate is able to prevent infections and complications in patients receiving organ transplants from donors infected with cytomegalovirus.
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