Lyndra, Inc., a Watertown, Mass.-based developer of an ultra-long acting oral therapeutic delivery solution, closed a $23M Series A financing.
The round was led by Polaris Partners, with participation from Quark Venture and GF Securities, Yonghua Capital, Healthlink Capital, Partners Healthcare, Suffolk Equity and others.
The company will use the funds to further the development of its lead candidate program and increase manufacturing capabilities. The company will commence first in human trials this year while additional dosage forms are being developed for pharmaceutical and biotech partners.
Led by CEO and co-founder Amy Schulman, Lyndra is advancing a novel therapeutic oral delivery system which enables linear drug release of small molecules and peptides for 7 days or more from each orally administered capsule. In addition to improving patient health outcomes via improved adherence, the Lyndra dosage form offers a new method of local gastrointestinal delivery. The technology was conceived in the lab of Prof. Robert Langer (co-founder), Massachusetts Institute of Technology by Drs. Langer, Giovanni Traverso and Andrew Bellinger.