Advertise With UsAdvertise on our extensive network of industry websites and newsletters.
Get the PBR newsletterSign up to our free email to get all the latest PBR
news.Surface Logix, a developer of small molecule drugs to treat metabolic and cardiovascular diseases, has raised over $20 million in a combined equity and debt financing.
Subscribe to our email newsletter
The company raised approximately $15 million through equity contributions by existing investors, including ARCH Venture Partners, HBM BioVentures, Healthcare Focus, Intel Capital, Saudi Venture Development Company, Unilever Technology Ventures and Venrock Associates.
In addition, MPM Capital participated as a new investor. On top of the equity round, $5 million was raised through a venture loan from Silicon Valley Bank.
The company has started a US-based multicenter Phase IIb clinical trial to test the lipid-lowering effects of SLx-4090 in 135 patients with dyslipidemia. This three-month trial in overweight and obese patients will also study the effects of SLx-4090 on markers of diabetes and metabolic syndrome.
Warwick Tong, senior vice president of development at Surface Logix, said: “We are excited to be moving into the next important phase in the clinical development of SLx-4090. This is the first of two complementary trials in dyslipidemia and diabetes that will study the safety, tolerability and clinical utility of SLx-4090 in a range of patients with metabolic and lipid disorders.”