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Lyndra Therapeutics raises $55mm Series B round; adds on $5mm

Executive Summary

Lyndra Therapeutics Inc. (sustained-release oral dosage forms) raised $55mm in a Series B round led by Polaris Partners, which was joined by all other Series A participants, along with new backers HOPU Investments, Gilead Sciences, Invus, the Bill & Melinda Gates Foundation, and Orient Life. The company will use the proceeds to fund Phase II clinical trials; expand its Phase I pipeline; and to scale up manufacturing. Lyndra expects to submit an IND for its long-acting schizophrenia pill sometime this year, with a Phase II trial anticipated in 2020. Lyndra's once-weekly, ultra-long-acting oral dosage form showed positive results in a pharmacokinetics study completed in November 2018.
Deal Industry
  • Biotechnology
  • Pharmaceuticals
  • Pharmaceuticals
    • Drug Delivery
      • Controlled Release
Deal Status
  • Final
Deal Type
  • Financing
    • Venture Financing

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