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news.Synosia Therapeutics, a developer of clinically differentiated products for unmet medical needs in psychiatry and neurology, has completed a CHF32 million series B private financing.
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According to Synosia Therapeutics, the proceeds will be used to fund the ongoing development of its emerging portfolio of Phase II clinical programs. The financing was led by Aravis Venture and Investor Growth Capital and was joined by Swiss Helvetia Fund. All existing investors – Versant Ventures, Abingworth, Novo and 5am Ventures – also participated in the round.
As part of this series B financing, Jean-Philippe Tripet of Aravis, and Gosta Jonsson, independent scientific advisor to Investor Growth Capital, became members of the company’s board of directors.
In addition, Synosia has announced that the following joined the board of directors: Guido Magni, formerly head of global medical science and global drug development at Roche for more than 10 years; Harry Welten, CFO of Arpida; Ralf Rosenow, partner of Blum&Grob Attorneys at Law and Genghis Lloyd-Harris, partner of Abingworth.
Brad Bolzon, chairman of Synosia, said: With this financing, the company has the necessary financial backing to move its compounds through pivotal Phase II clinical trials. The support of a group of premier life science investors clearly validates the quality of this management team and their recent achievements, which is especially gratifying during this uncertain time in the financial markets.