Symic secures funding from Lilly Ventures to advance inflammation pipeline
Financing of US$25m brings total raised since 2012 to more than $43m
Symic Biomedical, a clinical-stage biotherapeutics company based in San Francisco, CA, US, has secured US$25m in financing to advance its inflammation pipeline.
The financing was led by Lilly Ventures and brings the total capital raised to more than $43m since Symic was founded in 2012.
Symic's lead asset is SB-030, a single-use treatment for the reduction of acute inflammation that often result from bypass surgery. The drug is being evaluated in a Phase 1/11 clinical trial for vascular endothelial injury.
The company also has a preclinical treatment called SB-061 for osteoarthritis.
'This $25m round of financing puts Symic on a strong footing to execute on our promising pipeline of compounds targeting and affecting the extracellular matrix,' said Ken Horne, Chief Executive of Symic.
'We are now well capitalised to move our vascular and osteoarthritis programmes through Phase 1/11 studies in the clinic and to continue the exciting research on what our next clinical programme will be.'
