Symic Bio, a San Francisco, CA-based biopharmaceutical company developing novel matrix regulator therapeutics, closed a $30m Series B financing.
Backers included all current major investors as well as new investor Heda Ventures.
The company intends to use the proceeds to advance clinical programs including:
– SB-030 in the prevention of peripheral vein graft failure and
– SB-061 for pain management and disease modification in the treatment of osteoarthritis of the knee, as well as
– further research on the platform.
Led by Ken Horne, CEO, Symic Bio is a biopharmaceutical company developing novel matrix regulators, a new category of therapeutics focused on matrix biology. These therapeutics, with potential applications in a wide variety of disease states, are inspired by naturally occurring macromolecules that play key regulatory roles within the extracellular matrix. In addition, Symic Bio is investigating applications in the areas of fibrosis, oncology and diseases of the central nervous system.
The company also announced plans to initiate a Phase 3 trial of SB-030 following a Type B pre-IND meeting with the U.S. Food and Drug Administration (FDA). Based on a review of interim results from the Phase 1/2a SHIELD study, the FDA recommended proceeding with a single Phase 3 registration trial of SB-030 in the prevention of peripheral vein graft failure.