Syntaxin, an Abingdon, UK-based biotechnology company developing novel biopharmaceuticals to control cell secretion, announces it, has raised £18m in Series C funding.
New investors Lundbeckfond Ventures, Ipsen and Seventure joined existing shareholders Abingworth, SR One, LSP, Johnson & Johnson Development Corporation (JJDC) and Quest, which all participated in the financing.
The funds will enable the company to continue to develop its Targeted Secretion Inhibitor (TSI) technology platform, which is designed to enable the design and development of therapeutics for treating diseases where inappropriate cell secretion is a primary cause, as well as progress its lead internal acromegaly programme into clinical proof of concept studies.
Acromegaly is a chronic and debilitating disease resulting from excessive secretion of growth hormone.
Syntaxin has signed a strategic alliance with Allergan, Inc., for the development of its neuronal TSI for treatment of chronic pain.