Lyndra raises $23M in series A

Drug delivery company Lyndra Inc. (Watertown, Mass.) raised $23 million in a series A financing led by Polaris Partners. Also participating were Quark Venture, GF Securities Co. Ltd. (SZSE:000776; HKSE:1776), Yonghua Capital, Healthlink Capital, Partners Healthcare and Suffolk Equity.

Lyndra is developing a capsule designed to sustain drug release over at least seven days. After ingestion, the capsule's contents unfold into a star shape with six drug-loaded arms, which eventually fragment to allow safe passage through the GI tract. The vehicle can reside in the stomach for weeks without blocking the passage of food. Serial entrepreneur Robert Langer of the Massachusetts Institute of Technology and Gio Traverso and Andrew Bellinger of Brigham and Women’s Hospital developed the technology (see BioCentury Innovations, Dec. 7, 2016)...