Symic Bio, a San Francisco, CA-based biopharmaceutical company developing novel extracellular matrix targeting drugs, raised $11m in financing.
The round was led by Cell Innovation Partners (CIP), a healthcare venture fund started by ReproCELL and Shinsei Bank Group in Japan, with participation from existing investors.
The company intends to use the funds to used to advance its disease-modifying osteoarthritis drug, SB-061, into a global Phase 2b trial to be started in the latter half of 2019. Further, a global Phase 3 trial evaluating the potential for SB-030 to prevent vein graft failure in peripheral artery disease is also expected to start in 2020.
Led by CEO Ken Horne, Symic Bio is a biopharmaceutical company developing novel matrix-targeting therapeutics, 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.
It currently has two clinical candidates:
– SB-061, directed at disease modification and pain management in the treatment of osteoarthritis, and
– SB-030, targeting the prevention of peripheral vein graft failure.
In addition, Symic Bio is investigating applications in the areas of fibrosis, oncology and diseases of the central nervous system.