Recently, Artery Network (public number: vcbeat) learned that Lyndra Therapeutics announced the completion of US$55 million in Series B financing to expand the scale of phase II clinical trials of ultra-long-acting oral drugs.
This round of financing was led by Polaris Partners, followed by HOPU Investments, Gilead Sciences, Invus, Bill & Melinda Gates Foundation and Orient Life. It is reported that as early as April 2017, Lyndra Therapeutics had received $23 million in Series A financing led by Polaris Partners.
Lyndra Therapeutics is a biopharmaceutical company dedicated to the development of ultra-long-acting oral drugs for various diseases. The medicine is in the traditional oral capsule form, but the special feature is that the patient does not need to take it daily, but is given in weekly or monthly doses. Once the drug enters the stomach, it will continuously and steadily produce curative effects until the drug in the capsule is exhausted and is excreted from the body through the gastrointestinal tract. This ultra-long-acting oral drug can greatly reduce the side effects of drugs, improve drug compliance, and reduce medical costs.
Amy Schulman, CEO and co-founder of Lyndra Therapeutics, said: "From feasibility demonstrations to clinical trials, our team has been working hard to change the way we serve the healthy world. We are ready to initiate Phase II clinical trials of ultra-long-acting oral drugs. Preparation."
Cliff Chau, partner of HOPU Investments, said: "The change from daily oral medication to weekly oral medication is unprecedented. The breakthrough progress made by Lyndra Therapeutics in the oral drug delivery system will completely change the current clinical care model."
It is reported that Lyndra Therapeutics is preparing to submit an Investigational New Drug Application (IND) for a long-acting schizophrenia drug this year, with a view to starting Phase II clinical trials in 2020. In addition, the research and development of other drugs will also be carried out in an orderly manner.
>>>>About Polaris Partners
Polaris Partners is a venture capital institution with a history of more than 20 years, headquartered in Massachusetts, USA, dedicated to providing financial support for the healthcare and technology fields. At present, the institution has invested in more than 250 companies, with more than 4 billion U.S. dollars under management.
>>>>About Gilead Sciences
Gilead Sciences is a listed biopharmaceutical company dedicated to the production and development of drugs for AIDS, hepatitis B, hepatitis A and various infectious diseases. The company is headquartered in California, USA.
Invus is a venture capital company headquartered in New York, USA. The company currently manages more than US$4 billion in funds and has offices in New York, London, Paris and Hong Kong.
>>>>About Bill & Melinda Gates Foundation
The Bill and Melinda Gates Foundation was co-founded in 2000 by Bill Gates and his wife Melinda Gates. Headquartered in Seattle, Washington, it is a funding foundation. The foundation is committed to investing in education, health, and health in developing countries.