Symic Biomedical, a San Francisco, California-based biotech company, secured $15m in Series A financing.
The round was led by Lilly Ventures, with participation from Den Danske Forskningsfond (Denmark), Mitsui Global Investment (Japan), Ally Bridge Group (Hong Kong), InCube Ventures, Purdue Foundry Investment Fund, Mission Bay Capital, QB3 Partners, and other individual investors. In conjunction with the financing, Drs. Shanafelt and Claus Christiansen, MD, Chairman of Nordic Biosciences (Denmark), joined Symic’s board of directors.
The company, which has raised a total of $17.8m to date, intends to use the funds for the ongoing development of its novel therapeutics, and advancement of its two lead programs into clinical trials.
Led by Ken Horne, Chief Executive Officer, Symic Biomedical is an early stage biotech company developing a library of compounds that target and protect the ECM (extracellular matrix) from illness or injury-related degradation. The ECM is a dynamic structure within all tissues that interacts with cells and modulates many critical cellular events. As such, the ECM is a relevant clinical target in a variety of medical conditions: vascular, orthopaedics, dermal and others.