Zyngenia, Inc., a Rockville, Maryland-based biotherapeutics company focused on next-generation antibody drug development, has secured $10m in Series A funding.
The round was led by New Enterprise Associates (NEA).
The funds will be used to create novel, multi-specific antibody-like molecules that address two or more biological targets with a single agent. The company, which uses a proprietary patented technology, will initially focus on various cancers and autoimmune diseases.
Commenting on the round, Peter Kiener, D.Phil., Zyngenia Chief Executive Officer, said: “With financial support from NEA, we are poised to take a leadership role in the development of multi-specific biologic therapies”.
Carlos F. Barbas III, Ph.D., who developed Zyngenia’s technology platform, is the company’s Chief Scientific Officer. Zyngenia’s founding management team also includes Joseph Amprey, M.D., Ph.D. as Chief Business Officer, and David Hilbert, Ph.D., as Vice President and Head of Research and Development.
In conjunction with the financing, David M. Mott, NEA General Partner, and Robert Garland, M.D., Partner at NEA, will join the company’s board of directors.
Mott will also become the board’s chairman.