Syntis Bio raises $38 million
Syntis Bio, a Boston-based obesity, diabetes, and rare diseases oral therapies developer, announced the close of a $33 million Series A financing led by Cerberus Ventures, with participation from Mansueto Investments, Woori Venture Partners, Apollo Labs, BOLD Capital Partners, W. R. Berkley Corporation, Safar Partners, Portal Innovations, Colorcon Ventures, and Cerity Partners Ventures also participated. Syntis has also secured up to $5 million in non-dilutive funding from the National Institutes of Health.
Capital from the Series A financing and grant funding will advance development of SYNT, an orally delivered, transient polymer coating for the small intestine that controls nutrient uptake, enhances gut-restricted enzyme efficacy and increases systemic drug absorption for up to 24 hours. The funding also enables the advancement of lead program SYNT-101 through Phase 1 studies as a once-daily treatment for obesity, as well as initiation of Phase 1 studies for SYNT-202, a first-in-class oral enzyme therapy for homocystinuria, a rare pediatric amino acid disorder. To date, SYNT-101 has demonstrated strong pre-clinical safety and weight loss data, as well as clinical advancements in safety, mechanism of action and pathways for controlling weight.
“We’re grateful for the continued support and enthusiasm of our new and existing investors, who share our vision to revolutionize both chronic and rare disease treatment through safe, effective oral therapies. This oversubscribed Series A round coupled with these non-dilutive grants validates and accelerates the promise of SYNT-101 in obesity and, more broadly, our SYNT platform technology to unlock the small intestine’s full therapeutic potential to meaningfully improve human health.” – Rahul Dhanda, CEO and co-founder of Syntis Bio.
“While high-cost, complex development processes continue to limit many Americans’ access to essential medicines, Syntis’ SYNT platform represents a fundamentally novel approach to the oral delivery of biologics. We believe SYNT, with its breakthrough technology and platform potential, is poised to significantly expand patient access and redefine what is possible in drug delivery. I look forward to working closely with the team to realize the full potential of their disruptive platform and pipeline.” – Chenny Zhang, director at Cerberus Ventures.