Synosia raises $30M, partners with UCB
Synosia Therapeutics AG (Basel, Switzerland) raised $30 million in a series C round and granted UCB Group (Euronext:UCB) exclusive, worldwide rights to two Parkinson's disease (PD) candidates. SYN-115, an oral adenosine A2A receptor (ADORA2A) inhibitor, and SYN-118, a 4-hydroxyphenylpyruvate dioxygenase (HPPD) inhibitor, are each in Phase II testing for PD. In addition to the series C round, Synosia will receive an undisclosed upfront payment and is eligible for up to $725 million in milestones, plus royalties. Synosia will be responsible for Phase II development, while UCB will be responsible for Phase III development and commercialization.
UCB led the financing with a $20 million investment. Existing investors Versant Ventures; 5AM Ventures; Novo A/S; Aravis Venture; Investor Growth Capital; and Swiss Helvetia Fund participated. UCB's Greg Duncan and Ismail Kola will join Synosia's board. ...