Synlogic, a Cambridge, Massachusetts-based biopharmaceutical company developing novel medicines based on its proprietary synthetic biology and microbiome platform, closed a $40m Series B financing.
The round was led by OrbiMed HealthCare Fund Management, with participation from Deerfield Management Company and founding investors Atlas Venture and New Enterprise Associates (NEA). In conjunction with the funding, Mr. Chau Q. Khuong, a Private Equity Partner at OrbiMed, will join Synlogic’s Board of Directors.
Led by Dr. Jose Carlos Gutiérrez-Ramos, CEO, Synlogic is advancing a novel class of therapeutics, called synthetic biotics, based on its proprietary synthetic biology and microbiome platform. Its two lead therapeutic programs are being developed for the potential treatment of rare inborn errors of metabolism of Urea Cycle Disorder (UCD) and Phenylketonuria (PKU).
In addition to the company’s proprietary pipeline focused on rare diseases, Synlogic is leveraging the broad potential of its synthetic biotics platform for novel drug development in major disease areas through partnerships with pharmaceutical and biotechnology companies.
Synlogic is collaborating with AbbVie to develop synthetic biotics-based treatment for inflammatory bowel disease (IBD).
The company, which has now raised $70m in total, intends to use the funds to develop its two lead programs, UCD and PKU, which they plan to advance to the clinic in early 2017, as well as expand its pipeline of Synthetic Biotics across multiple therapeutic areas.