UK-based developer of novel biologic drugs that control cell secretion, Syntaxin Ltd, has raised £16m in a Series B fundraising.
The round was co-led by new investors SR One, the venture capital arm of GSK, and LSP (Life Science Partners) with additional funds from Syntaxin's existing shareholders, Abingworth. New investors Johnson & Johnson Development Corporation (JJDC) and Quest for Growth also participated in the financing.
Syntaxin's novel biologic drugs will address unmet clinical needs in the treatment of pain, nervous, respiratory and metabolic disorders. The company's technology generates novel proteins that target selected cells, resulting in potent and sustained control of aberrant secretion of hormones or signalling molecules that contribute to disease.
The funds raised will be used to advance the development of Syntaxin's biologics pipeline towards clinical proof of mechanism and reinforce its dominant technology position.
As a result of the investment Syntaxin's Board of Directors is now made up of: Andrew Sandham (Chairman), James Abell (Abingworth), Dr Deborah Harland (SR One), Dr Rene Kuijten (LSP), Zeev Zehavi (JJDC) and Patrick Doyle (Syntaxin).
Syntaxin recently moved to its laboratories at The Quadrant, Abingdon, near Oxford, having been founded at the Health Protection Agency at Porton Down. The HPA remain shareholders.