Syros Pharmaceuticals, a Cambridge, Mass.-based biopharmaceutical company that develops medicines that control the expression of genes, closed a $40m financing round.
The round was led by new investor Deerfield Management Company with participation from new investor Casdin Capital as well as existing investors Fidelity Management and Research Company, WuXi Healthcare Ventures, Polaris Partners, Redmile Group, Aisling Capital and Alexandria Venture Investments.
The company intends to use the funds to advance its pipeline of gene control medicines, including a Phase 2 study of its lead program, SY-1425, which is expected to begin in the first half of 2016 in a genomically defined subset of patients with acute myelogenous leukemia (AML) and myelodysplastic syndromes (MDS).
Led by Nancy Simonian, M.D., Chief Executive Officer, Syros Pharmaceuticals has built a proprietary gene control platform that provides lens to identify crucial genes that become dysregulated in diseased cells. The company is now leveraging its platform to develop a pipeline of gene control product candidates to treat cancer and other serious diseases.