Spyryx Biosciences, a Research Triangle Park, North Carolina-based company that develops treatments for respiratory diseases, raised $18m in Series A funding.
Backers included Canaan Partners, Hatteras Venture Partners and 5AM Ventures. In conjunction with the funding, Dr. Tim Shannon, general partner of Canaan, joined Spyryx’s board of directors as chairman along with Dr. Christy Shaffer, managing director of Hatteras Discovery at Hatteras and Dr. Brian Daniels, venture partner of 5AM.
Formed in 2013 by Dr. Robert Tarran at the University of North Carolina at Chapel Hill and led by John Taylor, President and CEO, Spyryx Biosciences is a biopharmaceutical company developing novel therapeutics for respiratory diseases, including cystic fibrosis (CF) and chronic obstructive pulmonary disorder (COPD).
The company’s products have been created to mimic the ENaC inhibitory effect of SPLUNC1, but with enhanced potency and drug-like properties.
Spyryx is currently in lead selection and expects to proceed to pre-IND activities for cystic fibrosis, their lead indication.