Syndax Pharmaceuticals Inc., a Waltham, Massachusetts-based biopharmaceutical company focused on treating cancer, closed $80m in Series C funding.
The round was led by Fidelity Management & Research Company and Delos Capital Fund LP led with participation from EcoR1 Capital, OrbiMed, Jennison Associates (on behalf of certain clients), Tavistock Life Sciences, Arrowpoint Partners, Cormorant Asset Management, BioMed Ventures, and existing investors Domain Associates, MPM Capital, RusnanoMedInvest (RMI) and Forward Ventures.
Led by Briggs Morrison, M.D., CEO, and Dennis Podlesak, Chairman, Syndax develops entinostat, an oral, small molecule drug candidate that has direct effects on both cancer cells and immune regulatory cells, potentially enhancing the body’s immune response to multiple cancer indications. The initial focus is on tumors that have shown sensitivity to immunotherapy, including lung cancer, melanoma and triple negative breast cancer.
The company intends to use the funds for the continued development of its product candidate, entinostat, which is being evaluated in combination with Merck’s anti-programmed cell death protein 1 (anti-PD-1) inhibitor, KEYTRUDA® (pembrolizumab), in a Phase 1b/2 clinical trial in patients with advanced non-small cell lung cancer or melanoma. it is also currently being evaluated in a pivotal Phase 3 clinical trial in combination with Aromasin® (exemestane tablets) to treat advanced HR+ breast cancer.